And from WA Mining Club news: "Managing Director Chris Ellison didn’t share a lot about the company’s strategy when the announcement was made, simply stating Mineral Resources was pleased to be associated with Empire and looked forward to “supporting the growth of its oil and gas business in conjunction with developing the power supply element of MRL’s mining services business.”
This is NOT a minor share play by MIN, Ellison has learnt from experience that the deal ain't done until the deal is done (and to keep his trap firmly shut until it is). MIN need a major shareholding in EGO is it wants to develop "the power supply element of MRL's mining services business". You simply don't get to dictate terms to EGO with a 20% stake. You need to own EGO to do that.
EGO Price at posting:
42.5¢ Sentiment: Buy Disclosure: Held
