Ann: MIN: Norwest shareholders' MinRes dividend opportunity, page-165

In theory if this drill goes well we should trade a premium, right? Why would you take up the offer if its the true value is revealed to be possibly higher?

My theory boils down to this.

MIN have probably been planning this play for a while and have probably made similar evaluations to Alexei and Old Geo but with increased precision. They ensure the BOD only publicly remained modest about NWE evaluations by making offers to the BOD that they could not refuse. Remember Iain said they had internal evaluations done - I really, really wonder what those numbers were.

As the project continues to de risk, MIN have decided it is now a risk/loss for them to not acquire NWE, because they stand to gain much, much, more by acquiring us at a discount evaluation. They have had to reveal that they think we are of value to them, but they still want to instil fear in everyone, otherwise they would not be able to acquire us at such a discount.

I have a bit of fear too, and I feel I am being coerced. I can take that risk. I will fold if all of you fold, because I dont want to own this if its off market - but man.... I really would like to be here for NWE dividends, not MIN's.