Ann: Takover Bid - Letter to Shareholders , page-48

"Actually I think UCL has a good chance of raising it easier than MAK right now"...........................

seals,
I agree with your statement.
I hold both MAK and UCL and i have come to the conclusion that Wonarah has far less chance of going into production than Sandpiper.
The conflicting stories coming from both MAK management and NMDC re the Due Dilligence on Wonarah has become a complete joke!!!
The MOU was signed on the 2nd June 2011 and there has been not one ounce of progress to date since then???
Now MAK shareholders are being advised (via the Indian Press)that after the Due Dilligence is completed a further MOU could be signed......"Give me a Break".........
Sandpiper Capex is peanuts compared to Wonarah and will definately be in production light years ahead of Wonarah, on top of that Sandpiper is far more profitable, so i don't think raising the required capital for Sandpiper to go into production will be an issue at all.
cheers,
dapper