I cant find a reasonable rationale for the behaviour. It doesnt seem to solve any problems for MAT. Certainly doesnt appear to be in the interest of shareholders. Sometimes the mining space seems like it's all a big ego driven pissing contest.
Cash would still be a looming issue for the next qtrly. JV would have put MAT in a comfortable position. (Based on reported returns in the initial announcement).
Anglo deal now the great white hope. They'll be aware of this. And that a great position for them to be negotiating from.
MAT Price at posting:
3.7¢ Sentiment: Sell Disclosure: Not Held
