BHP & MCR BOD stuffing AF here.
There was a reason the SP was collapsing to 100c and now we know.
My call months ago on here that MCR would not meet its guidance and quadruple production was SPOT ON.
the chance of that was like seeing pigs fly.
If you cant produce at more than 1ktpq then how can you go to 4ktpq overnight? NUTS.
Dufus AF must have forgot that BHP are the 100% offtaker for MCR and MCR has NO MILL.
At least now AF can start buying cheap shares at 140c now
AF loves warehousing mines like he did at Noront, ANL, POS and thousands of IO tenements through FMG so I guess MCR he could as well and take it away from BHP and he will have to build his own mill taking 3 years and $400M like SIR WSA POS PAN all discovered.
Thanks BHP for letting AF increase his holding here.
All those speculators buying above this bid price & hoping for higher bids look punk'd now.
Looks like it will go to bid price and will AF withdraw or lower his bid now as a result?! Chances now increasing
and will BHP counterbid at all? chances now dropping of that.
All that $100M cash and equity raised now in the red!
