sorry, forgot to actually say what i think is going to happen.
assuming it is EVN buying friday, i think the PXG board will call EGM to propose another trench placement to EVN hopefully at a higher price.
given EVN now have more voting rights through owning more shares, it will likely get across the line.
I believe board will favour EVN over Zijin. It seemed to board suggested several times to Zijin that the 10c offer had to be increased but it fell on deaf ears.
The board has already recommended a 2nd trench placement to EVN so based off that, you'd think the board is going to favour EVN.
Problems with arise if Zijin start playing hardball.
you would think given Zijin only offered 10c, if EVN offered Zijin 11c for their PXG stake they should take it, but it's not the way these things work.
that's the ideal outcome, EVN buyout Zijin's stake, then offers remaining shareholders full cash takeover at healthy premium.
wishful thinking i know.
I just hope things don't drag on as PXG don't have a bottomless pit of money
PXG Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
