You are absolutely right. MW is putting his money where his shares are. By calling a S203D meeting he has to bear all the costs which will probably run into tens of thousands of dollars. Also under s203D he must publish and the company has to circulate the reasons for this resolution and the current Directors may reply. That's going to make some interesting reading and I am sure the doings of the Evil Twins will figure highly in the reasons.
Whilst I agree there is money to be made on the volatility of this penny dreadful it would be silly to predict anything other than this stock will drop like a rock at some point as the CR shares are pushed into the market. If MW takes over we certainly see a rise but its a big "IF" and has nothing to do with technical charts (wankers) or the quality (or not) of the legacy Chile tenements.
We all hope MW is successful but don't forget s249 didn't get even close to getting sufficient votes only last year so we need to see what friends the Pirate Gang can muster to hold onto their last treasure chest.
Yo ho ho Pirate, prepare to be boarded !
CDB Price at posting:
2.3¢ Sentiment: Sell Disclosure: Held