The Big Question22 Jan 2021 12:05
Good Morning All.
Here's my take on things as they presently stand. Each bidder will have had a very good idea of what was in the ground anyway as they would need to know to get their Non-Binding offers in. Of these that were acceptable to the board they have been allowed to continue to the 2nd bidding stage. These bidders will have then been allowed access to further confidential information regarding reserves , this being the newly released DFS which will allow them to firm up their bids.
The big question being how much RHODIUM is in there , we can guess all the rest but what if there is an absolute MOTHER LOAD in there.
Once those preferred bidders have put forward there respective offers to UBS, one will be selected as best and proposed to the board. IT doesn't end there though as all other PBs are then allowed to offer again. Thats when it gets tasty and the SP is relative to the 1st offer price.
Have a nice weekend and GLA !!!