I agree. According to the announcement MTC terminated...

I agree. According to the announcement MTC terminated discussions with TMF. It doesn’t make sense to terminate discussion with TMF, even if the offer is low, unless they are confident of another superior offer. I mean at this stage most of us would have been happy to accept TMFs offer if it became binding. Gino wants a complete takeover for MTC. This is good, he doesn’t want to turn MTC into a lifestyle company designed to pay management’s wages. This was a risk with TMFs offer. This supports my thoughts as to why the deal for the lithium assets was cancelled - it makes a takeover easier. The TMF offer would have led to MTC making a profit on a sale, they then have to pay tax on this profit, after this they can only distribute some of the funds as capital returns but other funds as a dividends which would also be taxed. A straight takeover is much better for shareholders. I’m somewhat reassured that Gino’s interests are in line with shareholders. TMFs deal could have been used to secure wages for management for many years spending money of dud projects ( eg the Li project before they gave it up ). They had no obligation to give funds to shareholders and they could have slowly wasted the funds on dud projects whilst maintaining their wages ie a lifestyle company. I’m still disappointed that the talks with TMF have been terminated without another offer on the table. Even if they think the offer is low it’s still better than no offer. It would have provided a nice minimum price in case no superior offer materialised. Interesting times. I hope Gino knows what he’s doing ! GLTAHs