RE:why not? HCU - 86 m shares say at $2.25 = $200 m by the time the dust settles.
HCU owes SSL $185 m plus interest say $200 m
total $400 m
Purchase ETG @ $4.00 = $820m - bargin basement price - likely still wont fly.
Thats $1.2 B.
Don't purchase HCU
$1.2B /205 M shares of ETG = $5.85 say round to $6.00
Purchasing HCU not worth the hassle.
Antimina is chicken feed.
Turkey property HM - To close to middle east CF. Debatable if it will produce in the next 10 years.
Alternative
Make a fair offer for ETG and vacuum up as many of the shares as possible. Once over 50% if unsuccsessful takeover, stack the Board . Remaiming shareholders will jump to leave the ship. No assurance of a dividend to stay.
Of course there is probably a thousand differnt ways to play this.