written by JKuch========================================Why did...

written by JKuch
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Why did LCY backed away from 1.5cps offer to HAW back 6 months ago??? I for one was keen on that deal...

That was a mistake on LCY as it tried to out play HAW.

Also, I still havent forgotten the late/delayed announcement LCY made in reference to upgrade resource - in parelel with HAW capital raising...

I was very furious with LCY at the time...

Some may call this Karma...but I only blame the management for cancelling the term sheet!!!.

Good luck to both camps...
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Very interesting... and possibly true.

I too recall that SRK valuation, and the fact the LCY withheld/delayed its release. From memory, I think it was released a few hours after the HAW SPP closed!

Could that have been the trigger/warning to HAW directors that LCY was playing too smart, and from that point they realised there wasn't a trusting relationship... and they then went out and sought third party investment...

If that is the case, we (LCY) are to blame. We can't expect to get something for nothing. The HAW directors are savvy and have been in the game for some time.

The question is if Mt Bevan is valued at $100m or $200m or whatever, what is the HAW value of their 40% share today?
What is the LCY value of their 60%?
And will there be fair offer (if in fact there is one at all) in either camp tabled?

Interesting few weeks coming up.