Sale announcement due imminently3 Jul 2023 14:13
EUA has told us this morning that JN has finished the task he was brought in to do, the company has no intention of mining MT at the moment and WON’T be activating the Sino deal. JN resigns and likely moves into a position with whoever is buying MT.
The bod aren’t stupid, they have a buyer(s) lined up ready to complete all the necessary paperwork, it would be a silly negotiation tactic to announce your backup plan is not going ahead, taking away your leverage unless the deal was in the final stages.
Buyers ready to sign for MT, NKT, and WK, paperwork is very likely being drafted up now to be completed before month end.
Not sure how the company can give you anymore signals before breaking NDAs. This is it.