Someone will hit the Takeovers Panel with a case for unacceptable circumstances, but may not be able to until the Independent Board Committee makes a recommendation.
I get the rationale for taking it private, the mine would be profitable, it's just a sanctions-related issue of repatriating the profits back to Australian shareholders that is the issue, but they should have to give existing shareholders some sort of return on capital. For me it's just a trivial holding and a good learning experience in sovereign risk management.
I assume there aren't any unused Australian tax credits held within TIG that could/should be distributed?
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