Still scratching my head as to what the real reason is for MIN taking an interest in EGO. Yes, there's the whole "we are eco-friendly people" thing (see MIN's website - their Innovation Centre thing about clean energy), but it still doesn't really make sense. I think there is something else at stake that we just haven't figured out yet. A EP that means something more to them than EGO maybe?
In my futile attempts to figure all this out, I got to reading the history behind MIN's takeover of Polaris Metals. Looks like they got into a bit of a scrap, which meant their final price was slightly higher than they intended. Lesson to be learnt there was that they took too long and Lion-Asia Resources Pte Ltd tried to trump them (with a price that was still 100% higher than the original traded market price), and MIN then had to pay up. Perhaps someone who knows more about the story can offer a better recap for us. Bottom line - they have the cash, and I don't see them messing around this time.
Either way, I strongly doubt MIN is aiming simply to be a passenger on the SS-Titanic-EGO, with captain Ahab-Aitken and his crew's amazing ability to find every iceberg that ever existed. MIN are not an investment company, and don't have a history of "trading" small oilers. No. There must be a bigger picture we are not seeing.
Ideas?
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