He has done well to get this far. Does he want to risk it one...

He has done well to get this far.

Does he want to risk it one more time though???

And at a place where he has no control!

You wouldn't want it to blow up in your face at the last hurdle!!

The other thing to remember is that there are less than 10 million shares left for the Bidder to acquire.

Why wouldn't you just offer, say an extra $0.25 per share (above the new IER range), an amount to remaining shareholders to make the offer too good refuse.

This would avoid them having to spend their time and money going to court. It might also help them wind up the fund before the original March 2019 timeline.
One never knows what information might turn up in court!!!!

It would only cost them roughly $2.5m (on this example), which is chicken feed compared to what they will make when they sell the mine.