RE: Updates…25 Feb 2022 11:26
4 weeks today... That is nothing in terms of a complex business deal. I cant stress enough how complex this deal might look, with multiple third parties. If you study the presentations carefully you will know that the project requires to raise finance, and I expect this is the drag IMO. Covid might play a part, if a key person is ill, but as I said the purchase of the coal and coking operation in Australia would have probably occupied the same key people. I still say the increase in Doid share price is a result of the benefits from the coal deal, plus coal has increased in price, by about 15% since February. Doid is currently valued as a coal company.
The longer it takes, the less I am concerned. I always say in these situations, it is easy to say no, and if it was the case that they couldn't arrive at a deal between them, I think we would know already. They are probably working their asses off to get a favourable finance deal that they can all be happy with. In parallel I expect doid are doing the sums to go it alone.
I expect an RNS on Monday with either an extension, update or deal. I think they didn't give a time line because they were very close to a deal. Maybe they can use some Russian money that has just left London!
Just my musings, I could be wrong of coarse!