Ann: Lockyer Deep Operational Update, page-152

Really curious to see MIN next step, will it fold this takeover? MIN now has 80% + 73%*20% = 95% of the Perth basin leases shared with NWE.

I believe MIN can still extend offer with agreement from Board after "best" and "final". An extension would be at least another 2 weeks, and require a very good excuse and for such a rare event. A requirement from ASIC for honesty in bidders statement usually precludes this step, so it has to be a good reason....

Usually at least 6 months for new takeover bid, unless the board agrees, guess who will control the board? But I doubt another would happen before 6 months.

Good luck to those on either side of the equation, for your best outcome.

621(3) of the Corporations Act 2001:

• The target company agrees to waive the 6-month restriction.
• A competing bidder makes a higher bid for the target company within 6 months of the first bid, triggering a "no-crib" period during which the original bidder may also make a bid.
• ASIC grants relief from the 6-month rule.