I do believe that Yilgarn have been twiddling their thumbs indeed. I remind you to have a look at what happened in the WA parliament just prior to the tender process being announced.
What valid reason would Yilgarn have for not getting their financing in order before the deadline ? While Yilgarn was taking pretty pictures with the Chinese President, their bid was still incomplete. When deadlines were announced MMX said bring it on, Yilgarn said.. "while the timeframe is a bit tight... we look forward to submitting our proposal.."
In my opinion, the deadline was extended so that Yilgarn couldn't complain after the infrastructure is awarded to MMX. Yilgarn could have appealed the decision on grounds that they hadn't been nominated by MIS until just days before the deadline, that due to the take-over in progress they didn't know who their masters were yada yada yada...
How seriously do you think MIS was taking their chances of winning infrastructure when they only nominated Yilgarn just days out from the deadline. I think they only did it so that Yilgarn didn't sue the pants off them.
And if they thought the infrastructure was in the bag, MIS would have fetched a little more than 6.38 don't you think ?
Regarding Harbinger's voting rights, that was my interpretation of it and it turned out to be wrong. Although Harbingers voting rights would not have been critical in getting the deal over the line, as the merger's success solely rested on other parties.
I'm not infallible and I make mistakes, but is that a measure of how valid our opinions are ?? Have you ever made a mistake or a bad call before ??
Have a look at the MMX shareprice and tell me you weren't dreaming when you said that we'll bounce now that the merger is off the cards.
MMX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
