If the bidder is indeed MMG, an announcement of buying into Roseby would be a proxy announcement that the Dugald River project has been given final investment approvals, which involves an additional billion dollars of expenditure. This announcement was scheduled to be announced in the third quarter as per their last report.
Given the magnitude of the decision, it may explain the length of the delay we are experiencing.
AOH Price at posting:
13.0¢ Sentiment: Buy Disclosure: Held