Ann: Mineral Resources Shareholding in Essential Metals, page-16

Hi Crimson, you are assuming there will be a higher takeover price. Unfortunately the Board doesn’t have that luxury and a $1.3m break fee would be a fair whack of our cash reserves if they started indicating lack of support for scheme.

From MINs perspective if they wish to avoid a potential break fee (completion of a counter offer with 12months) I think they only need to wait until after the 2nd court date to announce. But as 2ic posted, what’s the hurry/risk for MIN, even after the second court date? Perhaps they will just let everything cool off and see how things settle.

From memory they can’t make a T/O offer for less than the highest price they have paid in the last 4 months , perhaps they will just wait until after that period so they don’t have that restriction. Might depend on what TLEA do as well.

Anyway, I am guessing everyone is hoping that MIN intend to vote No to the scheme, lol.