Codelco offering $1.22/share for buyout, page-168

Two points I will make for the last time. 1. Deliberations and negotiations are being based on project NPV. You can completely eradicate this notion of a premium on the 30 day average market price. 2. Codelco is a state entity but is operating in a free global market. It has never sought or received any discount for any of its previous mining industry transactions. I would say the top 30 holders would hold close to 80 percent of LPI and none will sell unless an offer equates to fair value. It's as simple as that. So you can forget about anything less than AUD$1.00 for starters.