Key points
- A2MP Investments FZCO released a third supplementary bidder's statement regarding their off-market takeover bid for Canyon Resources.
- A2MP criticizes the Independent Expert's valuation methodology and assumptions.
- Concerns about freight costs, capital expenditure, and development schedule remain unresolved.
Full summary
A2MP Investments FZCO has released its third supplementary bidder's statement regarding its off-market takeover bid for Canyon Resources Ltd. A2MP criticizes the Independent Expert's valuation methodology and assumptions, particularly the reliance on a non-binding indicative offer and contingent residual resources. They argue that the valuation may mislead Canyon Resources shareholders. A2MP also questions the Board's rejection recommendation, citing inconsistencies in the updated model and valuation methodologies. Furthermore, A2MP highlights unresolved concerns about freight costs, capital expenditure, development schedule, and funding capacity. Despite these issues, A2MP remains committed to the project and urges shareholders to focus on the real issues.