change in substantial holdings rio top up, page-18

Teddy,

The point is that RIO will NOT pay $10 for every share.

As long as people keep selling to them now at $1.10 per share RIO will NOT have to pay $10 for every share.

Near the end, as they control 40, then 50% it will get harder for them to get more shares and they will need to pay more, maybe $5, who knows?

Right at the end, the last 6 or 8%, is where they will pay $10 but only for THOSE LAST FEW SHARES. They will have already accumulated all the previous shares at a much lower average price, the average buy price will be somewhere between $1 and $5 I guess, again, who knows?

One thing you need to note is that EXT is special for RIO. The Rossing South deposit is HUGE but is also very close to RIO's existing processing plant. RIO won't need to build another plant, that saves them about $600 million right there.

All they will need to do is truck the stuff over or build a rail line from RS to their processing plant.