Member Info for addicknt

Must have missed it.

DM, BHP can't even be ****d to do theirs.

Music stopped in 1979. Everything since has been appalling.

Thanks, Z.

Orthern, yes, it would be concerning, but at this stage we have absolutely no evidence to support that position. What we do know is that Caldwell/Maxit are working 'full time' on the SR and have previously expressed a degree of urgency, so I'm not sure what's happened to make people believe they are not doing exactly what they said they would.

Is anyone else having problems with HL today? I keep getting the message Bad Gateway and I'm wondering if there's a problem with their server.

Bozi, that's not how a SR works and updates aren't normally provided.

I think the key question is whether or not at this stage the SR is merely an intellectual exercise, or whether they are actively pursuing one of the options. In other words, come end June will they say "having looked at all the options over the coming months we intend to follow x path", or will they say "having considered the options we have pursued x and this is what the deal looks like" (that's rather clumsily expressed, but you get my point.) My own view is were it merely an intellectual process it wouldn't have taken this long, but that's just speculation on my behalf.

Why do you feel Maxit/Citi won't generate any interest? Do you believe the asset is insufficiently attractive to stimulate interest from more than one party? I'd have thought we've already got two on the register and I'm sure there's more out there.

Bozi, would you rather we remained tangled in the undergrowth? Or don't you believe the company is making progress in the right direction?
The fact is we are in a very different situation from that of early summer last year and if we can't feel optimistic we may as well sell up and disappear.

Orthern, on that basis I take it you're no longer invested?

'done', not 'don't'.

As an aside, since we don't actually appear to be doing anything on the ground, we've got nothing to suspend. We've don't it voluntarily.

As far as I can see it's miner, not miners and relates to the jv with Codelco. With full justification the company is arguing that when they were granted the environmental licence in 2017 the current requirements didn't exist and were only enacted in 2020. In other words it's retrospective.
As we know, we are bending over backwards on this issue and as we are in the fortunate position of knowing what the requirements are, we should be able to satisfy them. However, this news is relevant to us and is yet another sign that we must keep the locals on-side.

'management apathy'? What leads you to conclude they apathetic?

DM, because we've appointed them to conduct a specific process and have announced it to the market. Inter alia it establishes channels to the company.i.e everything will go through the advisors.
RK, at this stage there's no need for a hostile bid.

One other thing to bear in mind is that interested parties will have signed a confidentiality agreement and will now be insiders. As such, they can't buy shares.

RK, as it stands, there's no need for any interested party to do anything in the market i.e buy shares.
We are in a formal review process and if anyone's interested in bidding they'll be talking to either Citi or Maxit.

corporate activity in the sector.
Glencore have bid for the Canadian firm Teck Resources. This follows Rio's jv announcement last week. Good to see some sector activity.

DM, you are absolutely right, particularly if the argument is coherent and within the realms of possibility - which '81s views are.
However, the problem arises when an opinion is accompanied by insult, sarcasm and attempted condescension.

Jezzoo, the CGP circular stated the merger conversation started in May/ June last year. From memory we implied the SR was already ongoing in an announcement in September, so we don't know if we started it independently or it was by mutual agreement.

The one thing it demonstrates is that a jv is unlikely to be the way to unlock shareholder value in the short/medium term i.e what Cornerstone promised their shareholders. I do hope Maxit/Citi are not wasting too much time on this option in the SR.