who will sell or hold for better offer, page-36

I grappled with this question this afternoon, some remarks from JGPM hit home. I will not sell at $1.40 though.

Whoever it is, has forced the hand of management and at a very low price.

Instead of diluting the stock when we were at much higer prices we now face hefty dilution just to save the company.

If someone were to take 50% it would have the same effect of raising capital at $1.35 for around 120-150M shares. 12% at 1.35 is OK

Plenty of cash to see us through to realise our dreams but I would figure at 10MTPA operation with around 320M shares on issue would be in the vicintiy of a SP of $6-$7. then take into account cashflow to fund a spur line onto that as well.

As showman discussed the other night this would have to be heavily discounted for economic risk. If it is BHP, I would assume this to be very low, based on the fact that the Railway deposit can be mined as one and there current operations are very close at MAC.

It then comes down to how bad CRM need us to realise there ambitions.

Managment are going to have to really sell me with the whole picture, Port, Rail, Future Tonnages. I dont see any announcment until Friday night. How can one take all this in and expect to buy in 20Mins.

If BHP offer around $2-$2.50 all cash bid risk free and taking into account the above factors I am a seller even if CRM match the deal.

At a $1.40 Bid, Brockman Resocrces may as well buy us for blending.

They already have $100M cash enough to take care of THX and a scrip bid for the rest.

Only bet on this one as far as the ironers go and did not give BRM any chance of 17MTPA. Dont I feel like a mug punter now. Good luck to them

Looks like it will be AGO BRM FMG BHP & RIO as the only survivors in a couple of years. Plenty of port for AGO & BRM

Deep down, hoping for the Rabbit, but I think our bidder has shoved it so far up Matty's arse he cant reach for it.

Cheers