Assays Depth Extending, page-28

if that's the case then I hypothesise and speculate that CBH are keen to buy MB and are using a well proven negotiating tactic of slowing it down to frustrate the other party and extract favourable concessions. especially when one party is busy generating positive CF and one is busy burning through cash.


the best way to counter this is using a "speed up" - eg introduce a 3rd party who indicates a willingness to buy 100% of the project by a set deadline forcing the first right of refusal that I assume exists for the JV partner. or make an offer to buyout CBH triggering the same right of refusal.


the issue in this scenario is that we have a very experienced and sophisticated JV partner dealing with a relatively unsophisticated board and management team when it comes to these matter. PEX needs to step up.