It is 100% my belief that Management do not want to do a buy out. As far as a take over and Indonesian Laws. there are a few.
1) Cokal is Aussie Company
2) as long as company is still cokal after the take over, it is of no interest to Indo Government
3) BBM is a company that Cokal owns 60% of.
4) BBM cannot easily be sold while it is in the approvals stage (I am reasonably sure of this as it was bought about to reduce speculation of pegging the lease and then on selling after taking photos of exposed outcrops).
5) Item 4) may be incorrect (LOL)
It is the other 5 leases (which are all separate companies) are 60 to 75% owned by cokal. These projects all show significant out crops and will be the source of ongoing development and create economy of scale.
Options repriced to 13c! Read the Quarterly, page-16
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