90 mins before the EGM they call to say they not going through in its current form, even though there is a binding term sheet.. why wait that long, bin it 3 months ago if you dont like the deal.
everyone knows the pitfall of doing business with these people but given they are the major consumers with the contacts you are stuck between a rock and a hard place.
Cockatoo was supposed to be a test for Timeone/SS&T to show they can deliver, they have FAILED and have proven to be 100% untrustworthy..
i'm happy for it to be suspended indefinitely until we get some other 'ethical' parties to the table to discuss and negotiate IN GOOD FAITH..
How can the board go back to Timneone/SS&T now after this? How can they be trusted? How do we get rid of Elly Wangs wife on the board :) They know we need them and they think they can pin us to the wall..
I hope the JTC are in the mix..
cheers
SuperTim
PS: Rex, whoever that guy was at the Westin clearly his mail was spot on!
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