win,win,win?

URL gets rid of a predator at a 'premium',has expert dollars spent in the ground, in a jv with apartner who has a smelter down the road.

Xstrata gets to play with some prospective sulphide dirt where the first stage of exploration is out of the way, at an attractive (discounted?) entry price-the premium for the placement is only marginal in terms of dollar spend to gain entry/plus gets an option at fair value for control on the balance of the total project area.

CUO receives an opportunity to exit at a sizeable profit(?subject to market circumstances after Easter when their bid expires). It can then concentrate on its own projects which should never have been reliant on the URL assets in the first place.

Time to race out and buy URL? Rather wait and see what is proposed with the CUO parcel assuming the bid is allowed to lapse.

Cheers,TAS