re: Ann: UCL: Takeover Bid - Independent Expe... "if i was a ucl...

re: Ann: UCL: Takeover Bid - Independent Expe... "if i was a ucl holder i would sell and buy mak, better value less risk."

I am sorry you fail to see how clingy Mr Drummond is to his 300k salary and how much he needs to recover value for the $400k spent on this takeover if he is to remain a director of MAK what with the reputation mauling he is going to get if he fails to procure UCL.

Risks I can think of are title risk, risk of running out of cash (liquidity risk), commodity price risk, legal risk, foreign exchange rate risk, dilution risk, fiscal risk, technical risk (machinery breaking down? operating at the frontiers of knowledge, mineral "reserves" not turning out to be there when actually excavated, etc.), finance risk (e.g. not available at any price), input cost risk, etc. to name but a few.

Your comment appears to be focusing on just one or two risks: liquidity risk (and possibly dilution risk) and you appear to be using cash pile size as a proxy for liquidity risk. Surely it is the cash pile in relation to future funding requirements that matters (if that is what you want to focus on). In the case of Wonarah it may only be economic if they build a phosphoric acid plant on site and MAK's $14m cash pile will be nothing compared with the $1bn capital cost required, surely?