Ann: Open Briefing - Reserves Upgrade and Decembe, page-4

re: Ann: Open Briefing - Reserves Upgrade and... yep, its interesting.
if this proposer is prepared to pay 65c p/s, how come they don't buy the holding of the substantial s/h thats possibly up for sale? Because it can pick those up at market for 51c -54c p/s?

maybe the naswer lies in that the bidder wants 100% or nothing.

so the way to that these days, is by way of a Scheme of Arrangement - and a Sof A usually requires the recommendation of the Board.

Frankly, if I were the bidder, i would be soaking up those shares. but i guess once they get beyond the 5% level then their anonimity is lost.

I guess the bidder is patiently working through the due diligence and negotiating with the Board.


WRT JB's comments re the bid, we were told nothing in the BRR. I think its not being dismissive - I think that she simply is not in a position to say anything at this stage, and that, in any event, the negotiations will be handled by AK and the Board.

More water to flow under this bridge yet.

cheers