with or without hanlong?, page-3

Ash,
I posted the same thing a week ago and I haven't seen anything to change my mind. There seems to be a lot of anger about hanlongs involvement which I put down to 2 things.
1. Over promising and under delivering. If I say your dinner will be ready in 30 mins, but take 45 u will b cranky, if I say it will be ready in an hour and it takes 45 u will think I've done great. This is hanlong/ chinas fault no question and frustrating.

2. The other reason posters seem to be angry is that no other bidder has emerged and following on from that, our boards seeming lack of effort in pursuing any other jv partner if one exists.... After we were led to believe they did for years. Hanlong and mgts fault.

There are obviously 2 ways to interpret this, either there is no bidder or prospective jv partner that wants to deal with us, or management have put all there eggs in this basket. I believe mgt have shut up shop and are working together to achieve the goals of the sia, which as a long term holder saddens me, but it has been the direction for 18 months now so I'm not complaining now, had my chance to get out and didn't. Other long term holders will remember a presentation that was released from the company that had the Chinese flag on it, before hanlong I think from memory, definitely before the bid anyway, which was the writing on the wall in hindsight.

Holders are frustrated. I see people now saying they would take 40c for it to be over with..... EXACTLY WHAT HANLONG WANT. Crazy talk. But it shows they are winning the battle. For those holders, don't be surprised to see them try it.

But no matter how angry everyone on here is, with hanlong or mgt, complaints to ASIC, sdl, newspapers, solicitors etc, doesn't change the fact that without this bid in place our sp is much lower, our prospects are no better and our running costs are still going to have to be paid for.

We tried for years to get a jv, couldn't. We have waited for other counter bidders, there have been none. A 45c offer that may happen is better than no offer at all in my opinion. I agree with some of kesslins post. The 45c is the floor IMO, but it's looking less likely to be raised. I also agree that the scheme being there has pulled mgts attention away from aggressively pursuing other avenues which is the real shame.

Ta,
Beef.