Ann: Quarterly Activities Report , page-10

vsberlina...JORC is not useless if you are trying to highlight to your neighbour how much sits on your side of the fence. Vale also drilling on their side of the fence, and I am sure they would be interested in a super pit proposition once SFZ start to prove up what they have.

As for the performance shares, yes on the surface the hurdles look cosy, but they are still shares that convert and that still have a value. Also it provides a solid block for any suitor to make an approach on.