can someone plz explain, page-7

Jane,

Your information could be profound. Judging by the accumulation over the last few weeks (well discussed here), and the fact that it is again repeated in today's Update that the tenement sale agreement is intended to be signed on the 15th April, any competitor to MCC would have to move fast at this point. If some kind of counter offer were to be made it would have to come from a position of apparent strength. Buying and borrowing shares would have that effect.

There are various Chinese companies that could be contenders. Shougang has just passed up the opportunity to buy Gazmetall's 20% in MGX (it could have made a full T O offer to get it in one line). That would have just saved them $425 M. With some 'small' addition it would make a good basis for a CFE bid. This is pure conjecture on my part.

Juke