That's a very good point sharemunger. Why go for 50% of Wonarah when they can launch a takeover bid for MAK via LCY.
9 months seems a terribly long time to perform due dilligence on Wonarah. I think they have something bigger cooking also.
It's quite possible that they want Sandpiper to meet their supply issues earlier on in the game and have therefore orchestrated the UCL takeover via the MAK negotiations. Who knows.
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