Springbee,I was pretty much certain that we will see the MB...

Springbee,

I was pretty much certain that we will see the MB results before the AGM but in accordance with the quarterly, both parties decided to put them on hold.

On one hand this is not what we wanted to hear but on the other it tells us that both Co's are talking and working on a deal. As already discussed, it makes sense especially from HAW's side as there are quite big costs involved and HAW directors maight have finally realised that spending the extra few hundred grand will not get them a better price.

If there were few possible buyers for the remining 40% then by all means the upgraded results would have made a difference but when you have only one GENUINE buyer who has over the last 12 mths proven that they are absolute tight arses, HAW directors might have realised that no matter what they do the price will still be the same and if that's the case, why spend more.

So, NO, I don't believe that we will see the results before the AGM but I still believe that a MB deal as well as more news on the gold spin off will get announced prior to the AGM. The recent increase in volume and a slight upward movement in the SP could be a sign of people getting set. It wouldn't surprise me at all if we saw 10c in the next few days and a 12-15c before the AGM.

As far as the AGM goes, I am quite sure that the Indian directors are obliged to attend our AGM and I doubt that they will want to show their faces if they arrive empty handed.

Lastly, I still believe that IF a deal is done between LCY and HAW, there's a good chance that HAW will pull out of the 2nd tranche and the extra dilution by the Chinese.

Yes, I know that most HAW's will disagree with this but that's just my opinion.

All the best and I hope that everyone had a win on the Melbourne Cup.