Hi @anatol I would be surprised if MIN is directly involved in...

Hi @anatol

I would be surprised if MIN is directly involved in any big way, but that is not to say Chris Ellison would not love to buy Buldania. I say that because MIN has a lot on its plate already and I'm pretty certain there's not a lot of ammunition in the balance sheet given MIN's big commitment to the Onslow Iron project as well as the lithium developments including that they have just contracted to buy Bald Hill out of receivership. However, if Gina lifts her stake to just under 20% and gets a seat on the board I'll be very happy.

if there is no actual "bid" from her and simply acquires a big stake on market, then ALB is left with no leverage being already at "best and final". There might be a vote, but the independent expert will have a tough job saying the offer is fair and reasonable and even perhaps our BoD will just say "no deal" now. If there is a vote, it will fail if Gina wants it to, which looks obviously the case.

We can feel somewhat vindicated with our personal valuations that were well above this price and shorters have been burned again!

I don't want to presume this is over but I'll sleep a lot better tonight.

regards
DF