As a CEO once said to me takeovers depend on two things. What price is offered and whether the majority of shareholders accept it. I actually don't think it's likely because 30% is not a majority ownership and OZL would likely make a counter offer. I can't remember if they have first option to meet the bid on WMP but I believe so.
More importantly OZL know the deposit inside and out. I (now) firmly believe that even Pre the FFS in Nov 2017 OZL knew how much ore was available even if it was not able to be included in the FFS.
This morning I considered the first part of the equation. At what price would I take the money and run. I'm willing to say pre-PFS 28c. Post PFS I'm cutting my numbers again and deciding on the trade-off between time and risk to completion. Now that might outrage some people and allows nothing for Succoth and other exploration. My answer is I'm battle scarred. Of course it leads directly into the second part of the equation what are others prepared to accept.
I apologise to everybody if my mouth is too big. (It's an occupational hazzard).
CZI Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held
