answers to tough questions, page-25

westcott,

I've never said that I knew for a fact there were no other interested parties, I could never know that.

What I do know is that Hanlong is the only one who had formally acted on that interest. At the moment there is only one bidder.

I don't think a counter is very likely for various reasons, but that's just opinion. If I were another interested party though, I wouldn't be showing my hand until the Hanlong deal has almost played out. I'd wait around, hoping for the Hanlong deal to fall over, the share price to slump, then come in with a lower (than 45c), unconditional bid. If the bid doesn't fail then I'd have to consider whether I wanted to pay higher than 45c.

donedeal,

Isn't it bizarre what westcott is asking for? Confirmation via an ASX release from the board that there are no other interested parties? You think the strategy of the board has been off so far westcott? What you're asking them for would be the worst strategy possible.

I hate these analogies but on this occasion it's apt. If you're selling your house, do you put an ad in the paper outlining your name, address, and the name of the interested buyer, then go on to say you only have one interested buyer and you're really in a bind, right there so the buyer can see it? Wouldn't the buyer then come back for some further negotiations, looking to drop the price further, knowing there is absolutely no competitive tension? You take offense to people to people saying they think you naive in some areas, but then you ask for a release like that from the board?

To each their own, but you'll never see a release like that from the board. What you have seen so far is the board cling to the Hanlong deal, even after being stuffed around so much time wise. What you have seen so far is the board accepting a revised down price. What you have seen so far is the board unanimously recommending the deal. What you have seen so far is no other party make any sort of formal bid or offer. This should all be indicating something to you I think.