That's exactly what Michael Anderson said at the Sydney meeting.
Most Shareholders (inc. substantial holders such as Soul Pattisons) are on board & are in Exco for the long term ... whereas Ivanhoe are not necessarily in it for the long term. That's why they're the only ones that are not in agreeance with the deal, because they want to maximise their investment. But the reality is that it's only going to give them (Ivanhoe) another ~$5m or so anyways.
In my opinion Ivanhoe are only interested in Ivanhoe - they're not interested in Exco's long term development, nor well-being, nor other Shareholders imo - in fact they could become a direct competitor to Exco. We always knew this was Ivanhoe's agenda anyways, so it's no big secret.
Exco only want to give back 50% of the sale to the Shareholders in order that they can use the other 50% for future development/s, exploration & M&A opportunities in order to grow the Company.
EXS Price at posting:
65.5¢ Sentiment: None Disclosure: Held
