Hi petrovskiI think there is a good reason, but of course...

Hi petrovski
I think there is a good reason, but of course whatever I say is only my opinion. I would love to be a fly on the wall of the boardroom.

it is the fact that ALB has said "best and final" that could have influenced them. I mentioned that these words have legal implications. If we knocked back the approach, then ALB would be forced to withdraw their interest altogether and there would be a period during which there would be no bid in the offing at all. That would remove any potential prop under the share price and embolden shorters and manipulators during a critical period leading to commissioning.

This way, we have a long period of waiting with the prop in place and I believe there is a strong consensus that one of two things at least could happen, 1. The expert report finds the deal NOT "fair and reasonable"...and 2. If it is voted on, it will be voted down anyway. We buy time!

I acknowledge that it sounds surprising, but I expect few outside of the boardroom have as good a handle on what we are worth and even Tony Ottoviano said that $2.50 was "ballparks away". So how the is $3.00 ok? There has to be more to this, and I have given you my take.

regards
DF