Ann: Suspension Extension Request, page-204

Sorry mate, but this makes no sense to me. QBL currently have a controlling interest in MCL (>50%). As a majority shareholder, they would ultimately have the say on whether the bid would be supported. If a bid were to be made, and don’t forget this is QBL’s shares we are talking about - not MCL - the owners of QBL’s shares would already have factored into their minds the future value of an income stream from MCL, Bauxite or both, making an offer price more expensive. I have also seen comments about a reverse takeover being of a shell mining company, presumably at a small cost, since that company has no assets as such. QBL is not a shell company: it potentially has significant assets of an undetermined value in MCL and also, who knows, in bauxite.
‘Everyone would sell QBL to buy MCL’, fine - but if QBL already control 55% of MCL, the most anybody else could buy into MCL would be 45%, still leaving control with QBL.