cathay's payroll still at work on this site

Having caught up on the traffic it is amusing to see Cathay's payroll is now effectively trying to downramp the revised bid price (Khaliqs?). I hope you're efforts are also directed at the instos.

Realistically, whatever the retail punters are willing to drop their pants for, it will be the instos that drive this bid, and they will not be exiting at a loss in this manner, so forget dreams of an 80c revision being acceptable.

If the wrong price is offered by Cathay, the instos are more likely to agree to new equity underwriting terms, dilute the hell out of Cathay's stake, and enable DML to do the DCM trade, in order to help with the company's solvency position till it gets into positive operating cashflow territory. They will not otherwise realise a loss on their investment at this stage. And don't forget the forecasts for the AUD/USD - the AUD is expected to tank over the coming 12-18 months, so DML stock, purely in FX terms, will achieve material repricing.

Personally, I have no interest which party takes control. If Cathay's revision is poor, they deserve to be punished harshly and lose their investment. If the price is right, I am sure they will have the support of all shareholders, including the Instos.