Very interesting that they made an on market bid to acquire 10% of AME which is generally not that common compared to off-market. Curious to see if MDI would try to negotiate a friendly take over bid with AME board, or otherwise have the audacity to engage in a hostile takeover bid in the not too distant future.
Perspective: Assuming Sandstone starts pouring in the future, they will be well positioned financially to complete takeover bid of AME either way and then moving on to the NT to kickstart Barkly. These are big plays from Rick and Co and i for one, am in awe of their strategy and have no doubt this positive outlook will be reflected in the SP.
Their focus currently is definitively on Sandstone recommisioning right now with an expected FS due in Jan 2021 and recomissioning of the mill between 5-6 months (ASX Release – 26 October 2020 Sandstone gold project Feasibility Study status).
Reading a few posts there are obviously punters out here disappointed with MDI SP as of current. But it is what it is, you either sell out now at a lower price and cop an L, or hold long enough for there to be a W. Don't forget why y'all bought into MDI (hopefully based on research) and trust in the process.
