Ann: DRX:Bidder's Statement in relation to takeover offer for MLM, page-12

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dgb99.94

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29/03/24

08:51

Post #: 73115315
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Originally posted by Arcpro ↑

I'm sorry but I don't think it will go any more than 3.8-4.2 ...and only if somehow we manage to get more than the current offer.
If you have time up your sleeves and willing to wait, u could get the DRX shares and wait, the project won't go to waste IMO.
Don't follow the ideal dream (MLM to production), follow the money.

IMO, DYOR.
Hi Arcpro
"If you have time up your sleeves and willing to wait, u could get the DRX shares and wait, the project won't go to waste IMO." - I am not sure about that. I had a look at DRX annual report and found a couple of interesting things. It would be good if someone with a better understanding of such reports has a look at it. Here is what I think I saw.

DRX and MLM already have a partnership in a copper / gold deposit at Clermont QLD.

Sibelco has 26.8 % and Ilwella 21.04 % ( With a very recent issue of shares) in DRX. I can't see any obvious Sparta ownership.

The DRX BOD which includes Wayne Duck former Labor treasurer have 10's of millions of options at low excise.

Most interesting ( Note 7 ) Sibelco have a joint venture (50/50 say ) on the project with only a 10 % monetary interest in the project. If this is correct it's very problematic IMO.

Also I recall Malcolm D sometime back commenting on Himself reducing His holding . for those that don't know - Malcolm D did a great job in exposing the former BOD ( incompetent at best , corrupt at worst) and took a welcome hand in installing the current BOD.

On the above , I don't think I could be a confident holder of DRX shares. Best outcome for MLM holders would be Mitsubishi swallow it on fair terms but my hopes of becoming a producer and 10 cents plus and growing MLM shareholder and therefore reasonable reward for decades of patience would be gone.

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MLM Price at posting: 2.6¢ Sentiment: Hold Disclosure: Held
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Ann: DRX:Bidder's Statement in relation to takeover offer for MLM, page-12

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