It is probably appropriate for me to state where I stand on this. I will defer my decision on Bastion's bid as late as I can so that I can get the benefit of any counter bid if there is one. I have not actually checked the detailed terms of Bastion's offer but sometimes, if there is a higher bid that takes full control, then acceptances of earlier offers will receive the final and higher bid price. I am trusting myself to the Directors to get the best deal in this case. My personal preference is for a buyout of the Kharmagtai JV (whether Zijin or another party) but for XAM to continue with Red Mountain and Sant Tolgoi. Bastion's offer is for the whole of XAM and I think the potential of the other projects is being discounted.
XAM Price at posting:
7.9¢ Sentiment: None Disclosure: Held
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