Ann: MAK: Patersons Research Note Recommending UC, page-2

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    re: Ann: MAK: Patersons Research Note Recomme... Interesting development. Would have been helpful if the note was included. Not sure how independant Patersons are? They have covered both companies and supported our last raising but didn't they start with MAK and didn't MAK commission them to do research? Their arguments could be perfectly reasonable and even correct for their clients but rather than being independant to me they look conflicted.

    Will be watching to see what role Patersons play in the future whichever path this takeover follows. I wouldn't put it past them, with their player reputation, to be trying to wangle exposure to the long term bigger raisings across both Sandpiper and Wonarah from a combined entity.
 
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