the silence is defeafing, page-13

So an offer of 30-35c is coming for FAS valuing the company at 100 to 120 million. Just how do you calculate this figure- at present the GWR shareholding is worth about 15-18 million, so in these difficult times the tooth fairy is going to pay 7 to 8 times the value of the company? Rio has just noted a fall off in iron ore demand and Sinosteel has asked Midwest to delay shipments.

I'm keen to be in on this bonanza once I understand it, so please explain your calculations.