re: Ann: UCL: Takeover bid for Bonaparte Diam...
Here's an unlikely but interesting scenario, MAK don't get to 50% by the 28th and simply withdraw the offer (prior acceptances are conditional on the 50%). The UCL takeover is then accepted and BON/UCL continue with 85% of the JV.
So in the end neither BON nor MAK have to raise money for the JV to do the BFS.
Also it's possible the UCL offer comes in higher and yet the recommendation is to take the MAK offer because MAK is the stronger company.
It'll be interesting to see what the independent expert report makes of the UCL offer.
BON Price at posting:
5.5¢ Sentiment: None Disclosure: Not Held
