will never make $1.50, page-18

Will be very hard to try and takeover for the $1 mark as i am sure that expert valuations that will have to be done as part of the takeover offer will surely then value the company around the $3 plus level (at current spot prices) that has been indicated by the basic valuations done by the likes of Southern Cross Equities. And if they were to value the company at current spot prices and also based on the increase in reserves then it is near impossible that a takeover offer of $1 would have any chance of success.