Oh Dear, more? leaked releases of information,first since surely...

Oh Dear,

more? leaked releases of information,first since surely the last stupid one that was an obvious no flyer.
-you remember the lets amalgamate a whole pile of losing industries,that were predominantly likely to suffer from Moly-Cops competitive advantage and join them all together.
Beautifully expensive graphics were appended to that one.Tut-Tut

Now its only worth 1.8Bn and you won't need shareholders approval.
Mmmmm.
Moly-cop was bought for $932m for existing Nth American delapidated and decrepid plant.
$1008m was the declared settlement from memory by the vendor.
Add to that Australian plant and the new upgraded plants worldwide and product growth since.Along with a doubling of tons.

Well if it comes to need for a court case I'll probably front along with a fair few others,to push for a vote.

Since ARI's major write downs of asset values,guess where that places Moly-Cop in the scheme of things?

Up there as a rather major asset disposal.

One could even say,the pillar by which the other businesses stand economically ,including dedicated Arc furnaces and recycling businesses to supply them and what most investors became shareholders for.
A rather easy argument to make,given the last AGM barely gave the Board a mandate.

And for those that think the selling of Moly-Cop ropes may set a price precedent,it doesn't as that was a quickly deteriorating industry segment i.e. relying on coal shovel and coal conveyor haul ropes as Australian coal mines were closing.

So it won't be a cheap one,no matter what the media spin says.

DYOR +DYODD My few and I bet someone else's 20% could possibly say otherwise and there will be a vote upfront,without a doubt,or it may likely take longer to progress than if there was one.
In case anyone has forgotten AG have made their opinion rather plain and public,for management's benefit what they should be doing with which my measly percentage concurs.
I am hoping that management are intelligently playing for time to allow business circumstances,especially Moly-Cops and steels income to turn further sharply upward.