Hmm, well that's plainly most disappointing...but not fatal.We...

Hmm, well that's plainly most disappointing...but not fatal.

We still have an excellent asset in Paron.

There's no doubt the bid for Michiquillay would have been a terrific one to pull off, and it's certainly extremely frustrating to be knocked out of contention on a trifling (and false!) technicality.

However, there's no use crying over spilt milk. It's done...so now we move on. These are the risks of speculative investment.

There are obviously valuable lessons to be learned about communication and focus that management can take from this.

And on my reckoning, very little value for Michiquillay has ever been built into the share price.