given tey have made no public noise backs up the theory
no exclusivity in data room, everyone welcome come make a bid.
Jokes aside, post DD will indicate 'true' performance of the mine as multiple parties will mull over the data. Theerfore any proposal/lack of proposal will be indicative of the operations.
Us mushrooms can only make decsions on the brief announcements, these parties will be on site looking at all the technical data etc. So their reaction post DD will be important to gauge.
I prefer they stay suspended until mid June, that way no one leaked info, mis-information, manuipulation can occur. I hope multiple parties are genuinely interested as it will provide competitive tension, ensuring shareholders get a favourable outcome.
I also believe if CF are genuinely interested they will know this is their last shot at it. Therefore should a bid be forethcoming it would have to be 1) Priced attractively (forget $1.700 guys) im saying attractively relative to the other options 2) Not subject to finance and Chine gov approval
Like my previous note highlights, dilution kills teh stock and i hope people understand the implications of that. To reieterate in simple to reject $1 offer ($430m value) in lieu of say a $75m raise at 0.25 means that you want to take the risk of time, money and opertaion for the company to grow beyond a value of $650m before you are ahead of taking the $1.00/bid. A merger with a raising at this price is also ludicrous no matter what spin management put on it.
Anyway if the "up for sale" sign is up i want best dollar for my house.
DML Price at posting:
34.0¢ Sentiment: Buy Disclosure: Held
