RE: Chess game22 May 2019 09:04
The problem is, this is a Chess game. In Chess no one bluffs, all your cards are on the table. So let's analyse the position, see where the strengths of the position lay and where weak squares can be exploited. Firstly NM says this is going to production, secondly, Finance is being arranged in the background. Thirdly he won't take anything less than full value, should he sell at any point on the journey. He has as far as I can tell always been straight forward and honest. Remember in Chess you never bluff. Now let's look at the other side of the equation. BHP are not going to overpay, they want value for shareholders. Doesn't mean they won't attempt to pick up others holdings or take part in another share issue, should one take place. But they make the point, that they would acquire a resource early on, when full value had not been achieved. BHP tried this and failed, but still came on board and paid a premium. If this gets taken out, I suspect this will be done via a concert group. Trust me, none of us want that. As others have said, patience will reward.