next, on market bid, page-17

It doesn't hurt ego have a quick independent review, as long as it is run by highly experienced people with a track record of success in industrial and mining business. More often than not these exercises involve kids with MBAs and PHDs whacking pretty graphs into pretty power points and pissing off the hardened corporate line managers who usually hold the keys to value.

BKN are different to the other Australian Behemoths that I have encountered (eg Onesteel/Arrium). They have great niche businesses and are not PowerPoint-driven.