Now that the dust has settled it’s probably a good time to...

Now that the dust has settled it’s probably a good time to assess what Corrie is saying. After all he is closest to the action and should understand the complexities of doing business in China better than most. Yes, Lone Star are being opportunistic, after all that’s their business. You can stand on the high moral ground and say we are being sold down the tube and the value of the company is far more than the offer price but what Corrie is saying is the project still carries significant risks. All of us long term holders know this as it’s been a roller coaster ride and when the share price languished around the 3 cent mark many were thinking it was all over. Full ODP approval doesn’t de risk the project, it just gives a degree of certainty. Funding shortfalls from partners could easily prove to be a major hurdle. In my experience, when a takeover offer is tabled and the share price trades below the offer price then there probably isn’t much interest from other parties. My guess is that the only hope for a higher price is from Lone Star themselves to get their bid over the line.