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My guess is that Made is not as big as has been previously...

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beveling8

66 Posts.

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30/11/18

08:33

Post #: 36698217
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Originally posted by timmayd: ↑

I think that this may be a last attempt by RMS to pick EXU up on the 4:1 offer.
I'm finding it hard to articulate the politics of how I see it playing out, but I'll give it a shot:
Dangling some cash and then taking it away may unsettle a few investors and thus upping their holdings in EXU and giving them more control. As most investors prefer cash it'seasy to see why a strategy like this may be effective. Ongoing delays (which I attribute to distractions) doesn't help.

Reading between the lines it appears the only reason why they couldn't make it work is because they want to truck or along the interstate - in line with commentary around the need for dirt to process at EM. A slight tweak in strategy could give them 1.5mines with 7+ years of revenue.

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My guess is that Made is not as big as has been previously indicated. For RMS the strategy of trucking MACE while EM gets developed would of been very appealing. Without a big mace deposit, I think RMS felt they were just over paying for an exploration play.

EXU Price at posting: 8.9¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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