Thanks V for sharing. I turned against this as I was reading the...

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Meteor

9,142 Posts.

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13/06/18

14:14

Post #: 33681892
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Originally posted by Verminski ↑

I had the Sydney firm on enquiring whether I would be taking up the SPP. Lol, not a favourable response. There was only one expletive in the reply but they got the gist.

Not surprised on the announcement, it was a crap package and posted my feelings previously. I do think it has been worded (announcement) so that it doesn’t detract from either party too much, although BAT was never coming out of such an announcement favourably.

Now they have to get their 5hit together, imv I’m with others in Flanagan going, this was, and is, a massive fail and at $500k + we deserve better.

Still can’t believe they are canvassing the shareholders on the SPP wtf, we have almost a 50% better offer on the table now that covers the options comfortably.

Cherie, I think, is an option to come in and settle the ship. However, if I was her I would be mighty miffed at this fiasco. A 12 month slippage (by the looks of it)prolongs the low SP phase prior to pre-production. That’s the kicker on this really. So either take losses or in for the long term (which under the stupid offer, everyone was anyway).

Finally, the project is a going concern, it is tempting to grab a few here at low price, but prudence says ride a little longer on present holding and don’t add to what could be bad if it’s not dealt with well. I also asked the canvasser to pass on my opinion that the shareholders are generally hacked off with this deal and that includes others that I know. He said he would report back to BAT.

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Thanks V for sharing.

I turned against this as I was reading the terms and conditions and am happy that it has fallen down.

It appeared to me that there was no negotiation and that it was written by them on a take it or leave it basis as if we had the begging bowl out.

I would much rather sit on the resource (after firing this useless man) until conditions turn for the better!! The resource is world class IMO and, should demand materialize as expected, we should be sitting pretty!

Last edited by Meteor: 13/06/18

BAT Price at posting: 3.4¢ Sentiment: Buy Disclosure: Held
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Thanks V for sharing. I turned against this as I was reading the...

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