From yesterday's (23rd September 2022) Annual Report we got this:
"...Mandrake secured two agreements with Atacamoz for an extension to the Terms Sheet due diligence period, taking the due diligence period end date to 24 September 2022. Due diligence work has progressed, with no decision however at the date of this report".
So there was no decision on Delfin as of yesterday the 23rd of September. The deadline is today (the 24th of September). That means that before the market opens on Monday morning (the 26th of September) MAN will know whether Delfin is a "YES", "NO" or another "EXTENSION".
I would be indifferent if its a YES and very happy if its a definite NO. What I dont want to see is another EXTENSION. If its another EXTENSION, then I will support a S249 to reset things at the top. I don't like MAN getting jerked around in negotiations. The best negotiating position is walking away but we are not doing that. We are hanging around like we are desperate. There are tons of decent projects around, Delfin is not the last project on earth!
Has anybody done a search on the actual people (directors, shareholders?) behind this Australian company "Atacamoz Pty Ltd" that we are dealing with? Does anybody know if they are related in any way to the people running MAN or who have run MAN before? I'm trying to understand why MAN just won't walk away from the deal and why they are so desperate to hang around.
MAN Price at posting:
3.9¢ Sentiment: Hold Disclosure: Held
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