re: asic first then takeover panel As I said, the Chinese can...

re: asic first then takeover panel As I said, the Chinese can wait for conditions to turn, I remember about 10 years ago a Chinese "General" being asked about his assessment of the Korean Peninsula ex Korean War and his reply was "it's too early to tell", they think in 100 year cycles, we think in days!!!
Look at FMS, market cap of $54m, iron ore reserves $10 billion and iron ore resource of $120 billion, fact is they have the iron ore , Rio's train line runs along their tenement and they can't use it, even if they built a railway, they don't have port access? And their project is economic with gross profit margins of $60 - 70 per ton on their DSO
Grosvenor West would be losing money with its high operating cost per ton, Fact
Presumably Chris Wallin would have had the opportunity to buy CLR as he had a position, presumably he saw the same obstacles as seen by the directors??, so that coal baron / billionaire chose to sell too or not participate????
What the board has done is recognised this and been honest in their assessment with shareholders, likely that they are unable to develop value from the assets within a reasonable time, but a country like China they will seek strategic assets even where they have to wait to exploit the value.
A disappointing end for long term CLR holders but reality.
FMS above is 1 example out of heaps I could name.