Ann: Corporate Presentation, page-5

I agree with what I think is your concensus above and outlined below:

1. DRR is a big enough entity to continue as is (that is it doesn't have to get bigger/acquire other streams);
2. Any new purchase couldn't match current returns & therefore would be dilutive;
3. So to keep pressing a goal to seek and make other purchases is significantly damaging the current stock;
4. Therefore come out and confirm it as an innuity stream (albiet with resource/asset diminishing at a very slow rate);
5. But as low maintenance and therefore requiring management akin to a TRUST or even non-active EFT/LIC;
6. DRR are therefore reducing staffing & operations to a post box, administrative, & (Trust & ASX) compliance functions.

Problem is current management & board don't want to kill their Golden Goose & any Golden Handshake probably wouldn't be attractive enough.
Also ILU have vested interest &/or 'Face' in this, so probably little interest or compelling reason to act.