After recently speaking with an independent contractor who has worked at Cobar, I have developed thinking around the purchase of Dargues.
During the in-house to contractor to in-house staffing again, Pybar trapped Clifford with a huge liability / breach of contract etc.
To save face and mend fences, Clifford and the Board, convoluted a plan to take the white elephant Dargues off Pybar's hands and try and make a silk purse out of it.
In short it was never a commercial transaction based on fundamental value. It was a messy, stupid, face-saving fiasco that spiralled further and further out of control - taking Clifford down the gurgler with it. Fact or fiction?
AMI Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
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