Bindilou if resource gets to 200MT or more which is very very possible MIN's 19.9% will not be enough to stop anyone launching ON MARKET BID. 50.1% is all someone needs to take control of resource. MIN will have to counter bid on market to stop them losing control of deposit. At the moment MIN is just a large shareholder with 19.9%. This is not ENOUGH to stop a takeover on market no way. For example if Gina Reinhart came in Monday and said to ASX i'm offering WC8 shareholders $2 a share cash then Gina could start buying on market at $2 dollars a share and become larger holder than MIN. As i said MIN's 19.9% is not enough to block a ON MARKET take over bid.
cheers
WC8 Price at posting:
81.0¢ Sentiment: Buy Disclosure: Held
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