General comments/chat, page-43983

I also can’t see anyone making a takeover offer for ADN.
For very different reasons.

First.
Very large number of current shareholders would not accept a takeover offer at a price below 3c which would be a very high premium to current share price. I would go even further and guess that a very large percentage would not accept an offer at 4c. This would make the whole process long, expensive and uncertain.

Second.
Without looking any further beyond what is already drilled and known if someone wanted to get into kaolin space instead of trying to offer $70-100 million for ADN, they could offer $10-20 million for Chairlift. Management of ADN would be crazy not to accept such offer as it would not only keep the lights on for a while but also validate the halloysite kaolin story.