If AVZ Minerals ends up at 36% with the Chinese in majority, you can guarantee AVZ will get the 36% part of the operation that doesn't make any money (bit of light hearted banter there).
I'm looking at your top 20 shareholders and I see there's been a creeping Chinafication of the share register with Cath at 7.29% and Huayou at 6.27% for 13.56% of AVZ. Take that into account, and even if AVZ retain 51% there's dilution back to 44% by this Chinese ownership sitting in the background. And that excludes Chinese shareholders sitting behind nominees.
Finally for the grim news tonight, some seem to think refusing arbitration is a good strategy. Probably not. The arbitration is just a cheap way of trying to resolve the issue in front of an independent umpire before escalating to litigation. Failure in arbitration could mean a long litigation process, but refusing it probably guarantees it.
