marampa iron ore, page-63

studmuffin,

I agree with your point about the 11c capital return (excluding the dividend). I do not understand how he could say this would have been a possibility when obvious logic dictated most options would have been converted. 22.7 will reduce also IMO. Still waiting for my reply on how cash backing = 90c per share as Mr Sage repeatedly stated.

Congrats to the holders on the recent gains anyway, I thought the 100M was pretty much inevitable but at least something moved this SP. Hope for further gains.