Woodgnome, I put my thoughts on a different thread. But...

Woodgnome, I put my thoughts on a different thread. But basically, with areva already having more than 10% it potentially puts off any other company entering as a competitive bidder if areva decide MEY is so cheap that the best way to get hold of it is a hostile bid and pay the premium for control. Without a competing "white knight" bidder areva will get it cheaper, which is not a good outcome for shareholders. The reason a stake larger than 10% is important is it a blocking stake for things such as delisting etc, so even if another bidder got all the shares that areva does not have areva can still block them from doing things. If management let areva go to 19.9% it puts areva in an even stronger position and shareholders in a weaker position.
Areva is a large multinational, and will be trying to get hold of MEY as cheaply as possible, and do not care about MEY shareholders. areva is playing the classic big company-little company tactics and looks like MEY is playing into their hands.
I think MEY managements tactics are wrong if their strategy is to build up the company for sale to areva. If that is the case the last thing to be doing is let them in the door early, and definitely not try to talk up things like access to arevas infrastucture (desalination plant etc) as it weakens MEY in any negotiations.
as part of my investigations before investing, i had a look at management credentials and see that mr. woolford has an MBA from oxford university, i would expect that he would have strategic and negotiating skills from that but am not seeing them in evidence.
at this stage i am relieved did not buy in after the resource update.