would you accept a 10c takeover, page-23

Sometimes its good to go back through posts to get some perspective. I just read what I wrote in Jan...

"...No I wouldn't accept a takeover at 10c. That would be a market cap of $70m. We are looking at a potential return of $10m pa from this year with a plant that has already been built (based on 2007 AGM projection). We are looking at launching into the next one hot on it's heals. We have just passed through the painful setup phase and have product sent around the world to be evaluated by potential customers and partners. TiO2 purity was beyond expectations. Why would 10c be reasonable???"

I still hold the view that I wouldn't accept a 10c takeover. That's a very small premium over the the return offered by the Newcastle plant post Dec. Yes... it's taking 6 months longer than I expected and I'd be happier for some of the risk to be taken out by way of an agreement announcement, but that's not a reason to give the investment away at this point in time.

There is too much upside once Newcastle becomes a fulltime operational site. I can wait.