get rid of them, page-72

I agree with Chubbs - its a $2 BVI registered shelf company there is no one to sue and no money there even if you won.

With 43 contracts all presumably conditional on each other there would more outs there than an Irish cricket team.

The Timeone sub holder notice on the 11th of May shows them with 49m or 19.9% of the company that's pretty much bang on the limit maximum for a full take over.

IMO - FIRB wont be a problem this isnt WPL or QAN there is no national interest at stake. OZL sold everything except Prominent Hill to minmetals because Swanny said they couldn't have that because it was to close to Yank spy base - LOL

Timeone could pass their parcel to Chinalco, Minmetals , Sinosteel or any one of a number of state owned entities. If a number of other friendly shelf companies have managed to pick up the J.P Morgan stock then PLV is in a precarious position.

OZL manged to get 20% of SFR in an off market overnight raid - All a Hostile predator has to do is put in a take over offer subject to 50% acceptance and its goodnight nurse .They would sack the board install their own directors and starve out the remaining mum and dads who dont accept.

Looks like the Cliffs and EIM capital holdings will determine how this plays out - if they fold their hand cheaply it wont be pretty.