Ann: Scheme Book and Independent Experts Report, page-19

agree @dlight. I will be voting NO as I may as well sit on them a bit longer. From my quick read of the 700 pages, a few things jumped out at me ;

1. again it confirms my view on IER's - I am off to see my real estate mate and see if he can tell his clients that their house is fair value between $290,000 - $400,000, but hey its reasonable for you to take $140 - $180,000, but that was a few months ago and it is now in your best interest for you to take $120,000. He would be on A Current Affair the next night !!! It is not good enough to quote OLD numbers - the current offer is basically 12c !

2. All we need to know is the value - 29 - 40cps and why you think that. Job done, thanks, send the invoice !

3. The IER basically says that CMMC are not in a position to be able to develop AOH's tenements. Not surprising given the extent of debt they are carrying, on a low grade deposit. If the Copper price tanks, they will also tank big time. Hence I think I have a lower risk sitting on AOH and its copper/gold deposit. Upside you ask ? Well if the copper price continues north then the AOH tenement becomes more attractive on a daily basis. We must remember that AC has been trying to sell this deposit at a time when the copper price was crap and the economics did not stack up that well. Yes the copper price has gone up since August, that's only 6 months. I don't think CMMC will be developing it anytime soon so where is the benefit to move to CMMC at a big discount and take on their risks as well.

4. A question for management if I may - you have obviously spoken with Matchpoint and they support the deal with their 10.83% if nobody offers more. What did Perpetual say about their 14.8% stake ? The silence is deafening or do we take it as a NO ?

I think things could get interesting and small shareholders will play a big role in which way this vote goes.

GLTAH and please make your own judgements as its every man/woman for themselves.