FO, I see what you are saying but I'm not sure I agree....

FO,

I see what you are saying but I'm not sure I agree. Sometimes proving the negative is more laborious than proving the positive. In this case if an active spot market existed it would be easy to prove even for Alliance. No one would argue you couldn't sell an "equivalent value" of gold at the moment would they? So if some one claimed there was no spot market for gold it would be easy to show that there is. The complexity of arguing that there is no spot market for uranium or if there was a market showing that the sale of product into that market might be unfavourable to the party that was selling would be a much more difficult than showing that the market existed. As I said I doubt Alliance is privileged to the information about the market so it will be up to Quasar to show that no market exists and or give reasons as to why if one did exist they didn't sell Alliance's share into it.

As far as your comment about the judge goes, I also find it strange that he would not have protested the delay during the hearing. When I was prosecuting my case in the Federal Court, I had the ability to communicate with the other party outside of open court through the judges chambers by way of his assistant. It could be that directions have been agreed to through a similar process in this case, thus explaining the brevity of the hearing today and seeming lack of argument or complaints by the judge. It could have all happened behind closed doors. Either way the fact that Quasar need more time is a positive IMO. They could just need more time to prepare. They could be delaying to make it harder for Alliance financially, although this would be improper use of process and I doubt the judge let the delay happen without good reason. Or they could be delaying because they have no where to run and NB is about to get his cheque book out. After all the implication from reading the wording of the offer rejection announcement was Alliance may have made some sort of counter offer acceptable to the Board that was rejected by Quasar.
IMHO DYOR

Eshmun