Ann: Central Tanami Project, page-30

The MLX deal and the NST deal are to be put to a shareholder vote. Pretty simple. TAM have already stated that is what happening.The Board and major shareholder have stated they will vote in favour of the NST deal. It is then up to the rest of shareholders. I fail to see what MLX can do about it. The deal was always subject to shareholder approval, and a better deal has arisen. Such is life. Nothing to stop some other purchaser coming in with an even better deal which might trump the NST deal. (I doubt that NST would react with a childish dummy spit) TAM seem not have signed any exclusivity with MLX, and why on earth would they.

MLX says it has a legally enforceable agreement and that their rights have been circumvented. Really? Are they saying that within the agreement TAM was not able to field any other offers. That would seem an absurd presumption, not in line with the facts, which I cannot see being enforceable. TAM was obliged to take the offer to a shareholder vote, which is exactly what they are doing.

Be interesting to see what TAM has to say next week, if anything.

I can understand MLX might be a bit miffed, but welcome to the world of competition.