RCF has now taken to MSM to beat on TMT SH, page-15

DNW I think - given the context - ‘best possible outcome’ is inferred;

As I read it he thinks companies in the ‘explorer’ category - particularly in this difficult environment - should take a long term view and the merger proposal highlights this thinking.

Then he gave a list of considerations that could apply to the long term view, including:
… “looking for synergies, enhancing the project economics, or just reducing the competition for existing resources or offtake or debt..”
….we just want the best possible outcome for the project,” he said. “We think that’ll deliver an outcome for shareholders on each side.”

Given the specifics in that list, if there is to be a formal response made. then I think (from an ex-journo’s perspective) it is relevant to explain to Nick why TMT as a go alone project does not require any synergies, enhanced project economics, reduced competition for contractors (or whatever), offtake partners or funding.

And, as I read it, more detail is on the way in the SOA booklet after confidentiality clauses no longer apply.