re: Ann: UCL: Takover Bid - Letter to Shareho... MAK needs to get the funding for Wonorah sorted, and announced soon. The delays on this project are already bad, so let's hope mgmt don't compound them by allowing NMDC to defer signing a jv agreement ad infinitum. Obviously mgmt does not have another party in the wings...
The UCL bid on the other hand could be a winner, all be it a medium term play (i.e. several months). It's hard seeing Sandpiper getting funding while MAK's bid is ongoing, so UCL either need to find a white knight to take out MAK at a much higher sp, or give in to MAK. Either way MAK should win, and I applaud mgmt for the UCL bid.
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