Member Info for addicknt

SH, sorry, you've really not grasped what's going on here and you most certainly do not understand the role of a retained adviser and specifically, Sangha and Maxit.

SH, put Irwin to one side, what do you make of Sangha's comments and his pivotal role in the future direction of the company? Bear in mind, he has been appointed by the company and is not some lone voice shouting from the sidelines.

SH, your opinion is as valid as anyone else's, but you accuse those who believe a bid is coming of basing there opinion on nothing. But so is yours.
In fact, it seems to me you're wilfully ignoring what's been going on over the past few weeks.

A corporate financiers wet dream. The messier, the better...provided they win, of course.

I'm still having to pinch myself at the speed of change here. Even when the merger was announced I didn't see how this would unfold and I most certainly didn't see DC's departure. It's really difficult to believe how CGP have gone from being a small shareholder to running the show, particularly bearing in mind the history. Quite extraordinary. A reverse takeover by stealth...a brilliant piece of corporate manoeurvering.

2Luke, the Chinese can have the lot. We most certainly don't want to be the weaker partner in a jv with them. Anyway, it ain't gonna happen.

DBW, I sincerely hope you're right - I really don't like the idea of a jv. And yes, it's good to see BHP being put on the back foot.

50:50 jv. A recipe for absolute disaster. They always are and always end in tears. If I were you I'd forget about that idea altogether.

ToS, Citi and Maxit are not 'consultants' in the sense you describe them. They are retained corporate financiers with a very specific task. They will perform a job our board cannot do themselves and you should be pleased they're onboard.

ToS, had you made that comment before the merger was announced I would have agreed with you wholeheartedly. But life has changed quite remarkably in the past month or so and the direction of travel is now being dictated by people who are anything but directionless.

Sid, that depends upon who you listen to. Irwin/Sangha think it isn't - others seem to think it's critical. My view is that the majors already know enough, particularly given the level of dd that will have been conducted by them over recent years.

RK, it will be fascinating to see how BHP/NCM react to this. How long will it take one of them to talk to the Aussie press with a comment along the lines of "we are disappointed to note...blah,blah".
Sangha and co must be really pishing them off.

orthern, do you really believe it's that hit-and-miss? If investors are prepared to pony-up 36m, is it your view they've done it on a whim?

The really good news is that we're now fully cashed-up and any talk of fire-sales can be consigned to the bin.

RK, very good point.

Perhaps the answer to the question of the shares is the description of them as being "Investment shares". A normal placing would simply describe them as new ordinary shares or placing shares.
The RNS needed a definition of Investment shares. But if they are the CGP shares, I'm still mystified as to why we've announced it first. We can always rely on our board to sow confusion!

sire, I don't know and am confused.

smick, yes, it's certainly likely to put the cat amongst the pigeons.
Given that CGP did not make an announcement yesterday, I'm assuming these are not their shares. As RK says, perhaps they are no longer planning to sell them, although if the company wanted to avoid dilution surely it would have made sense to do so? That's why I thoght the plan was so neat.

missed out "vote"

No permanent CEO.
No permanent CFO.
No head of personnel (I can't bring myself to call it "Head of People")
Board slimmed down.
More Chinese investment.
CCG and co assume total control.
This is heading for a straightforward showdown between the Chinese and BHP and the exhortation to make sure we private investors tells us the company knows it's in a fight.
Interesting times!

Bozi, I most certainly understand your frustration. I think you are underestimating Sangha's role. He is now advising the company as well as having a significant shareholding, so he's very far from simply being a gobby bystander.