It's irrelevant whether NMDC do the deal through LCY or not because it is NMDC doing the deal not LCY. LCY actually bring nothing at all for MAK - they didn't bring NMDC to the table, they did that themselves; they bring no money to MAK apart from what NMDC provide and bring no particular expertise either. Even the supposed foreign investment review board benefit is a furphy - having 50% of an australian company does not remove NMDC from potential FIRB scrutiny in subsequent transactions, especially since they now have effective control of LCY and will eventually certainly have actual control too. It would page nice if LCY holders get something for what they have lost but it's essentially irrelevant to MAK.
To MAK LCY is only a possible shell for NMDC, IF LCY is to be involved at all which is still not clearly presented by either MAK or NMDC. In the meantime it is idle speculation that really should be conducted in the LCY thread.
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