"It should have happened no, this HTO?"
Not in my opinion. Hostile implies without the consent and agreement of Nigel and the board. The ideal time for a hostile takeover is when the company is at its weakest. That's not necessarily when the share price is lowest especially in a stock like this that has lots of retail interest.
No point making a hostile takeover too much ahead of the roads. No point rudely interrupting AVZ's development work financed by aussie retail if your plan or hope is to get the benefit of that work in a fire sale when AVZ runs out of cash.
"We might be underestimating the influence of joint venture partners and their masters on what happens in a Congolese jurisdiction."
I don't think I'm underestimating that. I'm just not assuming "the influence of joint venture partners and their masters" works in favor of Australian retail. Nor am I assuming it works against us.
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