Deutsche Bank A number of posters here seem to have forgotton or don't understand the role that Deutshe Bank plays as the strategic advisor.
Deutsche Bank works for MBAC and it's sole purpose is to create a bidding war amongst perspective buyors/partners for the best deal possible. It's to drive the price up not drive it down with Q1 financials. They would have known the financials would be bad for a long time - they will drive the price via reserves valuation, comparables in the marketplace( (i.e. the Allanna Potash deal) etc.
It is not here to facilitate potential buyers in conducting thier due diligence indefinetnely.
The next step in the process was for potential buyers to submit BINDING proposals. Which means that if MBAC accepts your offer you must legally stick to the price/terms etc.
This is not a moving target where you can keep waiting for financials to be relased every quarter.
I can bet you the deadline to submit was before Q1 was released - likely even on Firday May 15th itself.
Book value is not the metric used to determine the valuation
For those of you so concerned with book value Allanna Potash sold for ABOVE book value - about 30% - So does anyone believe MBAC will sell for .66c*30% = .86c?