I'm with T3 and KL on this one. IMO, the DD is no longer for a funding deal, it's a DD for a T/O.
It's quite obvious that they have been trying to lockup supply by asking for double the amount, and most likely would have tried to include a exclusivity clause.
They have already locked up the 2nd biggest. Now they just need to lockup the biggest.
So then out comes Ancuabe...potentially able to supply competitors (Japan, Korea?) and throw a spanner in the works.
So the question is ...why postpone the DD to include Ancuabe and not just do the deal for NH now?
The answers seem to point to...why fund TON now and give them the financial strength to resist a T/O from the same people that fronted the cash? Why give them the strength to better negotiate ancuabe prices, when the time comes?
They want to control it all, and they're gonna take it. But that was the objective from the start wasn't it?
Unless a competitor wakes up and says "hang on minute"...
TON Price at posting:
28.0¢ Sentiment: Buy Disclosure: Held
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