Andres, your scenario is the same as the one peddled here since...

Andres, your scenario is the same as the one peddled here since August. It's the same armageddon scary tale of what a NO vote would do despite as you put it is all done and dusted. Honestly, nobody knows how the hedge funds will cast their final vote. The CDB term sheet being witheld may be more than just a repsonse to a competitive bid.

Perhaps privately, GJ has already told HL there is a blocking stake being amassed that the excuse for cutting the 57 cents to 45 cents NO LONGER holds as per the market conditions and IO price + future projections.

The clock starting ticking the moment the Cameroon permit was granted. This is the end of the road. There will no such BS as 6-12 months delay. HanLong will have to make a FINAL bid declaration if it's hand is forced.

In practice, I think the hedge funds will know the repsonse within a fortnight after blocking the stake and Han Long (we know now it's the whole PRC ready and waiting) will respond with their official stance.

If they don't increase their offer, they will make the offer full & final.

It doesn't matter to me and the other NO voters for there is doesn't COST us anything.

If the hedge funds choose to block it, then the NO votes will lend support to the blocking stake and increase the pressure for the PRC to comply.

Voting YES to a PRELIMINARY bid (no full & final offer declared) only undermines the likelihood of a better payout should a blocking stake be mounted.

Don't know why there is so much anxiety about the NO voters.