Sounds like Hanlong could be knocked back as takeover offer...

Sounds like Hanlong could be knocked back as takeover offer does not give value to the shareholders. 20% of .50c equals .60c. Is it possible, if the board and shareholders are not happy with the T/O offer that Hanlong could become the joint venture partner to develop the Mbalam iron ore deposit?

Hanlong may have the backing for the finance and SDL the expertise so this is why they need to retain the board and employees as set out in the conditions of the bid.