Agree Yayama - given latest resource upgrade and dredging report BON is hardly worthless, we look to pick it up at zero premium and it fits well with our current main focus. If we were taking over a struggling iron ore explorer because it had common directors I would be v.unhappy. But MAK has stated its goals and timelines with a phosphate focus and BON fits nicely with this plan - If we pay the right price then we have had no dilution - we are simply a larger company. UCL are next - a bit of a basketcase for its own shareholders with dilution but still an asset that may fit well with our next step - MAK likes to have full control.
Success with the takeover is close and may well be the launchpad chosen by Mak to pitch the first cap raising in Canada combined with.......? News has been backing up IMO.
ucl 9 for 1 bid, page-26
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