If CP is a nice guy, he should just make a low ball offer to buy rest of ARH shares he doesn't own instead of another placement for himself. This won't cost him much as he already own large portion.
This way at least holders will get something back in return. He can blame everything failed because of IO price drop and carbon tax (Labour party) for not able to secure a JV partner. This way he might able to get Liberal/National into office in next federal election. Once Liberal into office, he might able to influence political decisions.
T/O offer is only a small price to pay for CP. Otherwise, it will take a long time to file for liquidation and possible class actions by holders. It will cost him millions to hire lawyers to defend any class actions.
Look how much $$$ Gina Rhinhart lost in Fairfax deal.
It is either accept low ball offer or liquidation which 1Bt goes straight back to Mineralogy, and holders get NOTHING (ie $0.00).
Many years ago I already said "no chance getting a JV".
ARH Price at posting:
8.0¢ Sentiment: None Disclosure: Not Held
