Haw should be in a good position. I hold both companies. I think...

Haw should be in a good position. I hold both companies. I think you will find haw have more leverage than some think on Mt Bevan. Haw 40% I think will be taken over no doubt. It won't receive 78mill but also has not the need to sell its share (or 50% as did lcy) at such a discount to valuations provided.

Haw management are lawyers so they wont have to pay themselves fees in court. What's to say they won't fight to request time to finance? Haw went into jv with another junior after all and was paid out accordingly for that share.

Now that Lcy has backing past post may very well mean compensation for haw in any take over offer from a legal perspective in favour of haw; that is if they are pressured to come up with financing. In saying this Haw may also prosper if a company like cape lambert wish to come in as the silver knight to finance their share.

Consequently, NMDC will provide for both. Haw will get bought out at a lower discount to fair value. They will get their 30mill+ imo. NMDC won't fight to pay a heavy discount for HAw as it has muscled lcy management for theirs. They will pay the extra and they know the longer she goes the higher it will be.

NMDC exposed their hand too early to get away with a haw fire sale imo as achieved with lcy. You pay a premium for a hostile t/O or waste time in court.