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Correct, if Covid was the only reason for no formal offers until now, then why state the holiday period too? Just say due to the covid outbreak. The fact that the days over Christmas were mentioned as a reason for delay means there must have been some possibility of a deal occuring had Christmas period not happened, all pointing to end stages.
I think the BOD were hoping to get wrapped up by Christmas, like all of us. But they have given us an update confirming we are not quite there yet. Could be weeks or a couple of months, either way it's a short wait for likely monumental sale. A non binding offer can move rather quickly to binding once all parties are agreed.
The company is made up of 2759m shares, mainly in the BODs hands. I don't think 500,000 will signify much tbh. More likely that one day soon Dmitry will finalise the deal and then it will be announced to market. Quite simple really. We've already seen what happened to JUB.
It's only 25 mins into the day. This is not news to receive lightly especially given the value of the assets in ground. Multiple offers means the chance of no sale is de-risked significantly and when there is still so much upside to be had and it's just a case of waiting a little longer, I can't think of another share I would prefer to be holding right now no matter what Mr Market seems to think. Just look at previous deals and compare to our assets and metal prices, we're looking at multipleS from here.