Your right in that the possibility exists that the shareholders may not support the merger/ take over although it would seem illogical.
From looking at Cov share registry if I am correct the only major shareholder to have a blocking vote is in fact CFE and it is certain which way they will be voting.
Cov chart shows that the 14.5 cent a share is a premium to what Cov has traded at for some time although there has been some recent good news from COV lately.
zzzaaazz concern regarding the financing of Cov's mine is warranted although with CFE having a major interest and the grades that have recently been disclosed should mean that one way or another the project should obtain funding down the track.
It is interesting that out of all the companies that CFE has their fingers in that Cov is around the first that they see worth making a move on.
Should'nt be too long before the independant directors come back with to the board of COV regarding the offer.
There would seem to be only two possibilities either the recommendation to accept CFE's offer is made or compeling evidence why COV shares are worth a lot more than the 14.5 cents being offerred,is put on the table by the independent Directors.
COV Price at posting:
13.5¢ Sentiment: Buy Disclosure: Held
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