Ann: MIN: Response to Norwest Target Statement, page-154

ah but the point is that come September, the 3D results will be ready and will represent a significant moment in the market. To achieve the takeover 6-12 months ahead of 3D results would require stifling the drilling to an equivalent timeframe, representing at least $500m loss over the medium term to MIN. The reality is that they could improve their offer by 2.5x and seal it all in the next 3 months without the drama.