I was present at the meeting on Tuesday and that there appears to be a basic flaw in Mr Cottee's presentation that supports the yes vote, it is simply this.
RC said in general terms that if the NO vote gets up the board will resign, he said MB will (may) also walk away and no better offers forthcoming.
Let us assume that RC was being frank and forthright and that is the situation.
So here is the problem
He also said in relation to the CVN (I paraphrase)
"Why would MB put the drilling on the back burner and not drill so they can
save approx $85 Mil, they have can obtain hundreds of millions of dollars, it
is illogical.
They simply would not do it for a mere $85 mil."
So if it is illogical for them to not drill so they can save $85 Mil at the expense of gaining hundreds of millions of dollars, why is it so logical for them to walk away from the current offer and not increase it (even if its only for $85 Million)
That is the nonsensical argument of of RC.
Clearly the same $85 mil (effectively doubling the current offer) is a cost they are prepared to pay to drill, a doubling of the offer to 40 cents for the right to drill would possibly be a cost they are prepared to pay to gain the company in my opinion.
Stay strong and united.
CB
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