re: price Conix,
I hope you are right. I am sure TLW has a contingency margin built in their price, as no one will expect the first offer to be it.
However, if the major holders are stuborn in their "no" vote in search of a higher price and there is a stalmate; and if TLW can find a loop hole to pull out without the penalty, HDR will be in serious trouble; like 1.00-1.20 again.
But my thoughts are that TLW wants Uganda quite badly and its not going to happen (the pull out), especially now there is positive news at Kingfisher and will be reinforced by hopefully good news at Nziizi which is now looking more positive.
Like most holders, I am waiting for the report and the formal offer. Hopefully, the independent report might be just be the catalyst for another party.
Sell side is slowing drying up which is a good sign.
HDR
hardman resources limited
