market depth is starting to look good, page-27

G'day Zachary,

Always enjoy a few beers, probably too many - and here is my post-beer rosy-glasses rant......

I reckon like you that PRU look fair dinkum with good projects and good ground, and with the addition of BYR's assets would be a formidable presence in west Africa. I have held PRU in the past but none at present - but given my long standing faith in the gold bull I would happy to exchange BYR scrip for PRUs at the right price if we don't get a cash offer (......if we get an offer at all).

(Yes - i noticed upon reread I spelt scrip incorrectly twice in my previous post.)

Like everyone, I'll wait for the results before deciding how much I reckon our shares are worth - but a few us have said 4m oz global potential might be the base case. I'll have a review of peers and scribble on the back of an envelope to come up with a number in preparation. I doubt we'll see a counter offer though. Without a reserve number on Balatindi it will be PRU or nothing to my mind, and how much we think our shares are worth might be meaningless in the light of board room chess moves.

But I reckon Zachary, if Balatindi does turn out to be a world class IOCG it will eventually end up in the hands of one of the big boys and ownership of shares in Balatindi might be one to keep for the long haul.

Cheers