a quick reflection on recent announcements

26/8/2011 announcement

"Legacy is encouraged by the ongoing discussions with NMDC and as
such, Legacy has granted NMDC an extension of time to finalise the
necessary internal approvals to enable NMDC to present their formal
offer for consideration by the Legacy board in due course.

Legacy has also engaged a well-known independent mining
consultancy group to provide an independent valuation on its
projects. The final valuation will be used by Legacy in reviewing any
formal binding offer it receives".

I feel misled by the announcements Sharon was providing during the negotiations with NMDC. IMO There is no substance to Sharon's review of the independent valuation for comparisons with the NMDC offer. The statement should not of been made imo.

IMO She ignored the valuation or gave it little input towards her acceptance of the offer.

Also I'm a little surprised by the low low ball offer by NMDC given they will be requiring plenty of cooperation with a number of stakeholders to get this in production. There will be those that have a better handle than our Shaz and a longer time frame available.

That said money will still be allowed to have its say in the LT perhaps just with a higher burn now.

My opinions only. dyor