When the $3 TO Deal was announced there was a lot of whinging on...

When the $3 TO Deal was announced there was a lot of whinging on HC that TG had sold out to cheap, at Diggers I spoke to some fund managers that thought he was being greedy not taking the $ 2.50 and $800m, I said that he would see the project through to production unless he was thrown a figure that was to good to turn down as he does not need the cash, $3 obviously became that figure so a extra $200 m in his tin.
I sat in on the preso at Diggers from Tony and was unimpressed, I could see another cost blowout and another major finance or capital raise on the near horizen and I thought the SP would do the Statas Quo Down Down Prices are Down, but then the new TO offer came and then I thought well done TG what do I know or those Fund Managers.
At the end of the day if it does not change hands it could be a win win for all holders long term as I held KDR from 30c and Covalent / Westfarmers did the TO at I think from memory $ 1.95, if they waited a year they probably got it for 30c Max, and now they think Westfarmers got the bargain of the century
Covalent could be the entity looking to make the TO of Azure, another bargain of the century, just watch this space.
Cheers BK 14