re: Ann: Takeover offer to lapse as a result ...
First thing: is we gotta differentiate WNI and the Chinese SOEs. I believe they are different parties and have no connections.
Second thing: I think this deal is best in its form, though if AGO can offer an sweeteners that would be great.
Third thing: the directors including the CRM nominee supports merging the assets with AGO than WNI. In CRM's eyes, the AGO option is the best to capitalize on FRS's much stranded tenements to get it to rail and port esp. with AGO's massive financial power and special relationships with FMG and a stronger bargaining power with BHP or FMG.
So it appears to me, that even both CRM & China Western Mining are supportive of AGO.
So the claims that WNI have special connections with Chinese SOEs is in doubt. I think WNI had the right idea about merging BRM & FRS's assets. But AGO just had the best deal, which even Chinese SOEs like CRM are supportive of.
FRS Price at posting:
81.5¢ Sentiment: Buy Disclosure: Held
