What good is MEL without a PEL?
If the shareholders accept the deal, they have a guaranteed 25million. If they don't accept, they will probably negotiate for a few more years and get offered even less. What is the point in that?
Why not have a look, do some research into the dozens of failed miners that are reinventing themselves as technology companies. VTX, POK, BRN, NOR, DUB, DUO, AWO, CNW, AJX. Technology is booming, gas mining in NSW is failing. Why not hassle Hendo into accepting the deal and using the funds to buy a technology start-up?
Turnbull is investing millions of tax-payer money into start-up support and tax incentives so instead of banging your heads against a brick wall screaming, "It's not fair!", maybe it's time to take a real hard look at what a no vote will really mean. It won't mean a better deal. It's not fair. Sometimes life is not fair! It sucks that your money went down the gurgler but do you really want the company to throw good money after bad, paying lawyers and court costs? In an unfair world, do you think they will get a better deal?
Tech start-ups are booming. And they are doing it by back door listing poor Aussie mining companies. With $25million cash MEL could take their pick of the best IOT start-ups on offer.
Think about it folks and if you like the idea, call up Hendo and push the idea his way.
I'm not a holder and I'm against CSG in the Northern Rivers but I feel for you guys, especially the retiree investors who lost their super by following the advice of the NSW govt. I'm watching a lot of investors make real and major profits in the tech sector. Maybe it's an idea worth investigating.
Whichever way it goes, good luck.
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