Ann: Fifth Supplementary Target's Statement, page-8

how is there no change? a bloody new pit was opened up - there have obviously been a lot of works to productivity increases.

theres an extra $35 mill in the kitty

what the hell

The Non-Affiliated Directors note that there is NO CHANGE to the original valuation of a Realm Share provided by the Independent Expert and the estimated fair market value of a Realm Share (on a control basis) remains at $1.62 to $1.92.

The Non-Affiliated Directors further note that the Independent Expert has:
a) estimated the fair market value (on a minority interest basis) to be $1.25 to $1.48 per Realm Share; and
b) concluded, for the reasons stated in the Supplementary Independent Expert’s Report, that the Revised Takeover Offer of $1.35 per Realm Share is NOT FAIR BUT REASONABLE.