absolutely right!WCL said the original "intention to make an...

absolutely right!
WCL said the original "intention to make an offer" price at 36c was "manifestly Inadequate".

at 36c that valued WCL at $163m
Given this formal offer of just 40c values WCL at only $182m, what makes L/B think that an increase of about $19m, or just 4c per share, would make their formal offer suddenly "adequate"?

particularly given Petro was proposing an "intention to make an offer" valuing WCL at $185m a couple of years ago!

and that $185m was before WCL had a huge GSA, and before WCL virtually doubled its reserves!

so imho, 40c is still "manifestly inadequate".

we need to be patient - the next 2 weeks hopefully we will see some action.

cheers