Syd - you are rightly focused on who will maximise the returns to shareholders - CF or the DML management.
Re DML Management: its fair enough to make a judgment about their credibility, especially if you are unhappy as to how they have handled the last 3-6 months. However, I think others (including some Instos & Banks) will be reminded that DML took Boseto from nothing in 2005 to where we are today (in production). Those same people might even think its taken DML 8 years to arrive here (at whichever point they joined) whats an extra 3-4 quarters to maximise potential?
Re CF: since DML's listing this stock has been pretty stable bar a period in Q4 2008, post Lehman. Since then it has had a steady gradual stable climb till... enter Cathay to the picture in 2012, since which time there has been nothing but stock volatility, mis-information and confusion. Currently, they want to frustrate a CR and apparently they've made a bid which you are going to accept at 1.20(?), but there are no details about this at all, and its conditional on the CR being cancelled and them having another 10 days of DD.
I want to believe CF's credibility, so look forward to the details (if any). Till then, the credibility of both sides seems fairly clear.
DML Price at posting:
34.0¢ Sentiment: None Disclosure: Held
