This announcement substantiates several key points. "The Directors STILL unanimously recommend that Metallica Shareholders REJECT the Offer by taking NO ACTION as it materially undervalues your Metallica Shares and has been held by the independent expert to be NOT FAIR and NOT REASONABLE" and also states, "...and is below the Independent Expert's estimated fair value of 7.1 cents to 7.6 cents per Metallica Share". As a result of what could be interpreted as a DRX paradoxical misfire, (via their response to the original MLM Independent Expert Report 'IER'), a revised 'IER', (see Annexure 3) has been necessitated. Additionally, it has also obliged MLM directors more time and reason, (given their experience with working in the nearby geological and regulatory jurisdiction), to also articulate glaring shortcomings from the content released in past DRX public statements/announcements with regard to DRX business including various operational projections and approval process timelines and other necessary, risk assessment considerations, (see pages 12 - 17 of the announcement - "10 May 2024 Metallica's response to Diatreme’s third supplementary bidder's statement", 7 pages). It would be concerning to say the least, to read these highlights if you were a DRX shareholder. This is a comprehensive read and two thumbs up to our MLM board for their professionalism in this matter, perhaps not so, if you were a DRX shareholder. I am dumbfounded why any current MLM investor exclusively invested in MLM, (that is not also invested in DRX), would support this DRX current offer? As always, this is not financial advice, it is IMO, DYOR.
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