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I have been involved in the sale of a handful of companies. So far, in every case where the board has gone quiet for an extended period, it’s not been good news.
I understand MC is saying he cannot comment…
I hope this is the exception
I agree with you polo shirt. I would expect Calibre to be making a serious offer. My understanding is they can ship ore straight to their current processing plant. But it seems there is another interested party. Who knows where this will end up.
. It just a shame the sector - juniors- are currently universally undervalued
I think non binding is when the offer is unacceptable. There can be an intermediate position where the board announce it has an acceptable offer which can bring other offers out of the woodwork . Not necessarily but sometimes this happens
I thought there would be an offer based on heads of terms which was in principle acceptable and at that point it would be announced to the market and perhaps further bids elicited. You think a first announcement would be a concluded deal?