Visby has done over 3 binding offers. Management dismisses every single one, and they have all been much better than Tiger's. Visby has the money, Tiger needs to raise it. Management hides behind "their binding agreement" with Tiger (their mates), but their agreement is not binding its contingent on shareholder approval as its a disposal of a major asset as per ASX rules 11.2 and 11.4. Management is screwing shareholders - coupled with Tiger has no experience in Colombia and Visby has built from inception one of the top 5 largest producers in the country.
LCL Price at posting:
0.7¢ Sentiment: None Disclosure: Not Held
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