It look like a done deal to me, in the absence of a superior proposal. I am holding for long term, but given that Kinterra has a relevant interest in 17.1 million Cannon Shares representing approximately 19.99% of all Cannon Shares on issue, plus the fact that Kinterra’s relevant interest is as a result of certain Cannon Shareholders, including Cannon’s largest shareholder, Ponderosa Investments WA Pty Ltd (15.5%), it's hard to see the T-O fail. I expect Passmore and RXL will definitely accept the offer. I'm not unhappy with the offer, especially given that a CR must have been about to happen, given "To assist Cannon with its funding requirements during the Offer Period, Kinterra Battery Metals Mining Fund, LP has made an up to $1,000,000 short term loan facility available to Cannon."
CNR Price at posting:
44.0¢ Sentiment: Buy Disclosure: Held
