MBN (ASX) All over done and dusted

Originally posted by mattyedw ↑

The sale is deep in its process and if it wasnt for the Brazilian bank slowing things up then the sale might of already been done.

Talk was around $230m which is enough to source the debt of the 2 secured creditors and absolutely nothing left for anyone else(im sure their fees will be on top)

They have struggled with offers since the company was put into v/a receivership and this offer carried merit for all parties to proceed with the process....

People argue of the EV revolution and thats viable also the stocks declining and the NI price making up 50%, but you have to go back 2 yrs when they first put out to offer for sale....This process hasnt just happened....They laughed when we mentioned $500m, theres no offers any where close to this and what they have been offered they are excepting and going through the process

Now the above is their argument and "who knows the price of NI 'has very valid arguments and yes of course we have to go back a long time and you can see why the lowball offers have been taken....

This is why we are seeking advice because todays offer is not todays worth IMHO, but if they stopped the process now and re tendered back to market how long and at what cost would it be and of course a left field event that might throw it all into sheet street.....THEY are NOT going to take that chance..imho

How do we go about seeking fair value and trying to stop the sale????????????

The biggest thing we might have is from glossy operational updates to suspension in such a short time gives us a big sniff of something they might of been planning..........

We all know what is actually happening, but can we prove it? and can we pursue it?

I guess lucky Phil and myself will find out Monday at 5pm

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Thank you so much @mattyedw& Phil for all your work time & effort your putting in I really appreciate it. After all this time we will find out either way but what keeps ringing through my head is hearing.... safe & stable mbn & in no time at all we're shut down, they were talking about stock piles & enough money till December & all the money they spent on the tailings dam not long before they shut down plus the $11mill tax, but I just wanted to say thank you & we see what the next step is, good luck for next week