I must admit I was wrong on the timeline of this getting done.I...

I must admit I was wrong on the timeline of this getting done.

I thought we'd be at 90% by today or 87-88%
(I wonder if ADN can buy on market?)

I do believe there are some hold-outs but, they'll get cash (not +15%) after 90% and get screwed over.
I think the problem is 2 fold and it's been discussed here heavily.

1.
A very, very old shareholder base. Likely holding for 5-10 years. Some have moved or passed away etc.

2.
These problems with accepting on the ADN website and or brokers.
-Maybe bigger than we know and I'm sure ADN is looking into it. Maybe there are 20M shares sitting somewhere?

Just 60M more to go. Not much really.
There are 7 more days. Another 20-30M over that time maybe?

ADN is keeping it's MEP shares and fully controls MEP's GW assets now.
ADN has friendly options that it can do.
*I do note that ADN holders (and I'm 1 of them want to lynch the 12% of MEP holders, which is a bit silly. Relax.)
The DFS delay however is a real thing and it needs to get out...if it's ready which I believe it is.

ADNs first step if 90% isn't reached is to replace the MEP board.
With GW ONLY assets, it's could do a bunch of clever things.

Eg... Everyone talks about de-listing MEP but, it's "currently" just a company with shareholders
(who likely have no clue whats even happened) and assets.
The new ADN mgmt. could swap the remaining GW/CL/NN assets for 1 of ADNs gold/copper assets?

Or the new MEP mgmt. could announce a share buy-back with any funds currently in the til?
The new MEP mgmt. could sell the GW/CL/NN for X amount and that brings the delisting via the ASX automatically?

In a nutshell...
ADN in 7 days will own (I'm saying they are a lock at 30M more)...
85% of MEP

They THEN own 96.25% of GW/CL
92.5% of the Nano JV.

They'd replace the current 3 MEP directors with 3 ADN directors and with 51 and 75% voting power...basically, do whatever they wish.
There would be an EGM and 30 days later 1 of the above ideas or 20 other possible scenarios would happen.
I'm not sure of the legal-ness (made up a new word there) but, they might be able to release the DFS before then.

Remember, at 85% of MEP. They are 5% away from compulsory acquisition.
I can guarantee that Melissa is well prepared with plan A, B, C, D...Z

**She'd likely be talking to the ASX now. The variable is the DFS she'd argue.
The ASX can remove/change or give exceptions.
(I find it hard to believe that the 15% remaining MEP holders are the lawsuit type. As a shareholder who's held shares on just about every exchange on the planet, I've seen deals done with regulatory approval that made me shake my head. Including the ASX. We'll be fine.)

The trouble would have been if ADN acceptance was at 48% or 62% or 73%. 85% is gold.
85% is just an annoyance to get to 90%

They likely could still get to 90%
ADN has all the cards and the deal is 100% done.
It just may take a bit longer and might not be pretty.

GLTAHs.

Sentiment changed to NONE.
Buy isn't right.
Hold is WRONG.
Sell is kind of right...to ADN.