Ann: Update on A$0.55 per share Cash Offer , page-8

i wasn't concerned re the ann. on balance, i found it more reassuring i was a bit dubious about their stated timelines.

don't forget, they have a lot of crap to get together - the timing of which is partially outside of their control. i asked management at their recent presentation on the deal re approvals and they mentioned that FIRB approval is required as well as the chinese equivalent (and possibly an SA approval too?). it's not surprising that the offer has been delayed as presumably all these (plus more) need to be sorted first?

the ann mentions that the "process for obtaining approvals is progressing well". i guess this could be taken two ways (i.e. is there an unexpected hitch with an approval body?) but i'm prepared to give GDO management the benefit of the doubt and assume that there is only the (reasonably expected) approval delays.

this is my opinion only. anyone have any intel, or an educated opinion, to the contrary?

k