change in substantial holdings rio top up, page-15

Champ,

Unaccustomed as I am to you agreeing with me I find it hard initially to know where to start.

If we assume that RIO have done their due dilligence and have placed a value on Rossing South then we must also assume that they have a finite amount of money they are prepared to ultimately expend in the quest for the control they clearly desire.

So if there is a finite amount they will spend (an average amount per share that they will pay) then the silly sellers today are doing the rest of us a great favour. We should be thanking them as they walk out the door, not villifying them.

They are leaving more of the pie for fewer of us to share later on. Our pieces of the pie will be larger than the early sellers are getting because there will be so much pie left and so few of us.

Keep in mind, if RIO buys a share in EXT then it is gone, it is no longer in circulation. Given enough time, the number of shares in circulation will become EXTREMELY tight.

That is when RIO will have to come to the bargaining table.

p.s. I am sure MAQ are playing the capping game, as professionals hired by RIO would anyone expect less of them? They are doing the best for their client, good on them. It is all good as long as it accelerates the process of removing the shares from the hands of the weak and puts them in the hands of the strong.