Yes, agree with you regarding this. No board or management would risk a takeover until the permitting is guaranteed. That is a huge risk and potential massive own goal to go in for a full takeover too early. Basically, it could be a career ending decision if something left field happens and permitting doesn't get through or there are potential delays. These PRU directors have a great gig, why would they risk everything instead of waiting a few more months for the final decision from the Guinea Government. If they have to pay an extra $10-$20 mil on a rising PDI share price post regulatory approval, then so be it - shareholders and the company will easily cover it. Whereas if they gun it too early then they could be paying with their own pockets and careers!
PDI Price at posting:
24.5¢ Sentiment: Buy Disclosure: Held
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