Ann: Change of Director's Interest Notice , page-4

Yes they could certainly withdraw the bid. No offer has gone out and no acceptances made to worry about.

It is taking time to get the revised bid out. This may be because Chris Jordinson is currently in africa - hopefully putting some good news together.

Is it possible for a mutually beneficial resolution? I tend to doubt it. MAK need Sandpiper as much as UCL do and haven't shown the humility to leave the project running as it has been. I see ongoing trouble ahead at the corporate level unless UCL get enough MAK shares to be able ro force change in their board.

Still the asset and project continues on and mutual self interest should see that continue.