EFD goes unconditional in Finders bid

THE Eastern Field Development consortium has drawn a line in the sand as its attempt to take the whip at Finder Resources drags on and the trickle of acceptances it has gained since October have failed to turn into a flood.

EFD goes unconditional in Finders bid EFD goes unconditional in Finders bid EFD goes unconditional in Finders bid EFD goes unconditional in Finders bid EFD goes unconditional in Finders bid

EFD, which comprises Provident Capital Partners, Saratoga Investama and Merdeka Copper Gold, now owns just 24.91% of the Indonesian copper miner.

This morning it declared its offer unconditional, with director David Fowler again raising doubts about Finders’ finances and operational performance, painting of a picture of a company that was in significant peril once the bid closed.

"We announced our intention to take over Finders Resources five months ago. Finders has had ample time to secure a white knight, but the reality is that no alternative bidders have emerged.

"Provident tried to sell its stake but could not find a buyer. Finders performance has deteriorated significantly since then."

He again criticised Finders’ "highly theoretical a...