Now that this SOA has been scuppered, I wonder what their next play will be. Will they make another attempt via the more traditional on market route or will they just wait it out till the SP falls and investors get bored? I am guessing they wanted the full 100% for the Ironbark drill? If not they can play the long game and if Ironbark does not meet expectations mop up the remainder of the cash and assets for about 50 cents and disillusioned holders sell out?
Then again if they want the full 100% for the Ironbark they will need to get a move on and might have to pay a pretty penny. Either way it is interestingly poised.
Now as to the credibility of Rosalind and Ritchie? Do OGOG even want them to stay on as independents? Because they have not served their purpose well (I am assuming here) and if I were in Og's shoes I would want other independents on the board who are perceived to be more credible and useful to their endgame. The current CEO and independents and exec team may well be sweating slightly as well as it may be those who OGOG have relied on to get the deal across the line (being familiar with NZ culture/conditions etc) and have failed miserably.