General discussion, page-11858

@Naydoe - they wouldn't be letting it go, so to speak, in this scenario. They would still be leading it with controlling stake, but would benefit from optimised processing setup leveraging off existing IP, certainty on pricing for the DFS, established client base and supply agreements, etc. Obviously, we already have ex-CBMM staff on board to assist with some of these aspects, but this is still no replacement for an actual fully aligned commercial position with the world's biggest supplier.

While I think this might be one of the better outcomes in the longer-term but perhaps it wouldn't give the SP a huge kicker in the near term as it might discourage other investment. In the short-term a healthy takeover offer would probably be a better outcome for holders wanting a quicker capital gain on their holding, including Regal. Even Datt is accountable to his own investors and fund guidelines.

I doubt that Paul and the team would turn down an offer that properly values the company, if it was in the best interest of holders. CBMM can't make such an offer due to likely FIRB rejection. Hence need Gina or Rio to stump up but so far they are MIA - although it wouldn't be a surprise if one of them was in discussions with CBMM to structure some sort of joint venture vehicle to allow the TO offer and give CBMM sufficient skin in the game in a FIRB-compliant arrangement in return for access to their customer base.

Anyway, my opinions are likely wildly incorrect or naive without any insight into the broker dynamics, major miner business plans, market dynamics and whatever other variables that are influencing our current and future SP and MC. I'm sure Paul and the team have a grand plan to maximise value for all of us.

Personally, I am just hoping this translates through to the SP in the near term (perhaps because my average buy is higher than the LTHs here!), notwithstanding the overall market influences outside of our control. Never a dull moment holding WA1 that's for sure.