Awaiting final forestry approval in Indonesia. Recently received port approvals
Subject to a 15c cash takeover bid
Major shareholders got set at 16c and 18c, so we expect a counter bid in the 20-25c region
Majors shareholders + directors own 60%, so there is belief one of the majors may counter bid for the 40% of the register in similar 20-25c range to take it private
264Mt resource with 2Mtpa planned for BBM deposit. TBAR deposit which adjoins could make it 500Mt+ resource with 6Mtpa
Blackrock own around 20M shares and have been liquidating. The stock is housed in a closed fund, so they are forced to sell and have been selling like mugs. They are the only real seller in the stock. Once they are gone, I expect a serious bounce
So opportunity exists to get set cheap before a counter bid or Blackrock is taken out
