Good news or bad news. Who knows ?. But you have to wonder at the psychology of lobbing a "document" on the desk two days before the AGM. If it's the DFS what's the big deal, we all knew it was coming about this time, all they have to say is that they have received it and are studying it and in due course will release details.
Pan/Gram have been nothing but positive over the last few months and all the indications are that the FS completed it and the news is good.
Bad news , I would think would be that Ramu was being placed on a care and maintenance basis.
Good news , that an offer for HIG or Freida has been received.Low ball offer from Pan would be knocked back by either or PNGSDP or Trafigura even though they are not represented on the board.
What about an offer from Trafigura, they are an action company not a patient investor .They have petroleum (retail) interests in PNG and are looking to expand in the western pacific.Their forte is material movements and processing, they want part of the action not 16% of 15/20%, they want a place at the table.
HIG Price at posting:
7.0¢ Sentiment: Hold Disclosure: Held
