If I was on the CXX Board, knowing ALL the information that has...

If I was on the CXX Board, knowing ALL the information that has been disclosed to the market by the Company, I would be thinking very hard as to why I would recommend a takeover at "any price" - when, without much effort they could sell CXX for AUD$750m.

If, in the unlikely event, I was unsure what I (& the rest of the Board) should recommend to the shareholders - then I would simply remember what the "Corporations Act 2001" states I am obligated to do.

In short, every officer of the Company must act in good faith and in the best interests of the Company (ie the Shareholders). It is a criminal offence if they don't do this. See Sections 180 to 184 for a start.

I would say most (if not all) shareholders know the potential that CXX has to offer. So, given all this, who on the Board would try and sell a takeover to the shareholders in preference to an acquisition - or indeed to stay and mine?? Remember how many shares Craig holds. He is not stupid. If I understand things correctly, it only takes 10% of the holders to stop a full takeover.

As I said - it's a no brainer.