Ann: Highlands executes Scheme Implementation with Cobalt 27, page-81

I don't think there's any chance in hell that MCC WON'T intervene in this takeover.For a lousy $80 mil Co27 gets 8% of Ramu and an option to go to 20% and no doubt another option to go to 20% of the $1.5 bil US expansion which will probably double capacity. Why should MCC allow then to do that when for peanuts, say $US110 mil they can have the lot. MCC have access to the endless supply of money that is China. China is only interested in supply and influence. The more the better. Co27 on the other hand have the arse out of their pants, not a great deal of capital and a huge amount of borrowings. MCC have done the hard slog over the last 12 years, and believe me it's been a long, hard, slow slog. MCC owe nothing to these interlopers from Canada, they don't need any streaming agreements from these pipsqueaks. Whilst I hate to say it I think we're done for, our only hope now is for a better deal. 12 cents would probably do it but 15 cents would be nice.