independent review says accept, page-11

Reading the review I was reminded of Yes Minister's Sir Humphrey's comment of "Never hold an enquiry unless you are sure of the result"

Some interesting points in the review.

Michael Woodborne would be paid out over half a million dollars if he is terminated as a result of the takeover.

BON shares are valued at 2 to 2.5 cents each. Seeing that BON has never traded as low as these levels, how can this be a realistic valuation.

Savanna is valued at $210,000. Seems totally unrealistic for an asset that is/was a producing mine. Makes the decision to suspend operations the same day as the takeover was announced suspect IMO.

Armour