I understand ADI are not in the box steet for this battle , however there is a little bit of gunpowder left for the board / directors.
I refer to the upcoming advice to be provided by the board to shareholders and the market - they need to nail this , be clear on the possible / potential value of both assets ie sugar and yemen (and back it with indepenant broker advice eg hartleys) as well as recent drill results and a projected forward drilling program and the value this could create.
If they get this right it may , and i re-iterate may , get other big players to get on ADI's share register and allow some existing shareholders to stand firm with some level of comfort about holding and in the end confirm that the opportunistic offer made by AWE is a lowball joke offer.
ADI Price at posting:
41.5¢ Sentiment: Hold Disclosure: Held