Ann: Intended Proportional Off-Market Takeover Offer, page-18

There is something quite fishy about this whole offer thing.
This guy has bought up almost 10% of the company at a cost of almost $1.5m so he aint walking away if the 0.005 offer is a dud.
And as someone else here rightly pointed out he must be aware that a raising is likely to be required in the not to distant future so what is the plan
(a) if the original offer is rejected
(b) if the original offer is accepted how will he unlock the resource potential he is talking about without signifiant funding that would dilute his already substantial investment
The only glimmer of hope in all of this for shareholders is that there is real value buried deep in Cobar and there could be a battle on now as to who will ultimately own it.