RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Nevsun Dismisses Baseless CriticismsOK, so you call yourself the "real shareholder". Oh really? I had planned not to respond to you any longer...but...you are continuing the name calling and being offensive.
What makes you the "real 'shareholder"? and not a dissident that goes against RMC management. Aren't RMC management "real shareholders" or that title only belongs to you and the parties which you seem to support, being the "Chinaman", XGC and Jim Bao.
RMC management which holds more shares than you do, think that the dissident offer is value destructive - but of course - you know better than them- If you were that smart you would not be hanging around these boards, unless you had a motive - being - thriving on caos, which you and the other confessed dissidents are trying to create.
OK, then if the dissidents and their proposal then give us these answers.
1.
Why is RMC saying "AVOID THE VALUE DESTRUCTION INHERENT TO THE DISSIDENTS' PROPOSALS"
Adrian Day says
Nevsun could increase its offer; another company could make a bid for Reservoir; or the company could raise the funds to repay the Nevsun loan in many ways. It would however open the door to these alternatives.
2. According to RMC management they have considered 25 proposals, and selected NSU as being the best. Lundin is not interested. They have said so in no uncertain words. Both in their initial proposal, and thereafter. Why is anybody else stepping up? What stops them? Is it just possible, just possible that the "NSU deal" is fair? Investment banks and proxy organizations say, it is. The door to proposals has been open for over 8 months and NOBODY has made a better offer than NSU!
3. Who is going to pay the $20 million break up fee? Can RMC afford it? What would stop NSU and RMC management to extend the deadline, if the merger, falls short of the required 66 2/3?
4. NSU provided a loan of $45 million, allowing RMC to exercise its rights and purchase the North zone. You call yourself a "real shareholder of RMC" - meaning what? Take NSU funds, in turn capitalize on it, and then say arevoir? That seems to describe you and the other dissidents pretty well....no scruples...create caos to advantage from it...
5. RMC would have to raise finacing to repay NSU loan, being $45 million, plus the break up fee of $20 million plus another $20 million to fulfill the Freeport agreement to fund the South Zone, exploration - Of course the "dissidents" would provide the loan, secured by Reservoir’s interest in Timok as well as other Reservoir assets. Great, thank you "real shareholder". So in effect now the "Chinaman" in effect and by defacto put their nails a little deeper in controlling RMC.
6. Is the real objective of the "dissident" shenanigans, to destroy the merger, and create havoc, forcing their already rejected proposal, onto the RMC shareholders. But that would be ok with you, as you are ok with that being the "Real Shareholder".
7. If you and the other dissidents, want to take RMC over, its quite simple. Make a superior proposal to that of NSU. Give us RMC shareholders, Board and Management an oppurtunity to vote on it. Of course you and your "friends" the "real shareholders" are not going to do that. What you are going to do is create caos, delay and DESTROY RMC VALUATION!
8. But maybe I got it all wrong - you are really trying to obtain a higher price for all of us. Oh what, your "Chinaman" friends offered $8.00 cdn for an additional 10 million shares, of course nothing is "binding". As I understand it... RMC needs funds to bring the project into production. Your dissident friends, are ready to provide $80 million (stock) plus the $50 million + 20 million (convertible loan). So all in all a total of $150 million less the loan repayment to NSU being $45, and the break up fee of $20 million and the $23 million for the Freeport exploration budget, you and your dissident friends have ameliorated current financing by approximately $70 million and XGC and Jim Bao would have raised their ownership to roughly 20% plus their security over the Timok project.
To me it seems that those who call themselves "real shareholders" are attempting to screw the rest of us.
A No vote is Value Destruction and it can only benefit the "dissidents" who have positioned themselves to take advantage of the caos, that they are creating. But hey, that's ok because they are the "real shareholders" . What are the rest of us? suckers? We're going to be suckers if we take your advice
The door to proposals has been open for over 8 months and NOBODY has made a better offer than NSU! By forcing a further delay, by voting no, is VALUE DESTRUCTION! 1128