I may be missing something - isn't the whole construct and point of ON-market bids that they can start buying as soon as announced? Clearly these were lined up by their appointed broker and had sounded the market prior to open.
Golden does have recent trading performance on their side and this offer is higher than the prior offer - normal points you could get a response from TO panel on unacceptable circumstances? I think the case would be weak given cash certainty offered in these uncertain times. FIRB only hope but reliance on prior approval is probably reasonable given not much time has passed. Probably doesn't fit the bill of a nationally strategic asset (other than mining water access rights and port access perhaps?).
SMR Price at posting:
99.8¢ Sentiment: Buy Disclosure: Held
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