There was never going to be another bidder for the obvious reasons -
TPD had a 45% interest in Wayerling and whilst it had other tenements they required drilling etc with each no guarantee of success. In addition, it isn’t the operator either.
It also had a minority Mongolia interest in a foreign jurisdiction with all the potential risks associated with it.
And it had a MC of approx $120m, which is peanuts in the scheme of things.
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Ann: Results of Scheme Meeting, page-66
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