Gero, I get S9.39 based on the potentially reduced offer of...

Gero, I get S9.39 based on the potentially reduced offer of 270p; and $10.08 if the offer proceeds at 290p

It would seem to me when you look at the bigger picture around the LT U308 market, anything less than $10 is giving it away - fundamentals have not changed.

I personally think all potential suiters must be rubbing their hands together given the curve balls which have been flying in terms of the errattic statements by the Nam Govt and the Fukushima situation.

Consider this:
If EXT were to go for $9.39 (inferred by 270p offer), the reserves in zones 1 & 2 the buyer get it for $9.17/l (and a great deal less if you consider what else is without doubt there; eg add the inferred 110Mlb in zones 1,2,3,4 and you get a mere $6.42.

Similarly, for the 290p offer, EXT goes for $10.08 per share and the reserves for $9.85/lb or with inferred z1,2,3&4, then it's a mere $6.89

This thing has to be worth more than that, and I feel confident this has not escaped anyone's attention at RIO et al.

I just hope EXT and KAH act in OUR best interests to ensure we get BEST VALUE not just FAIR value in the context of the current circumstances (ie Nab Gov Minister shooting his mouth off and Fukushima)

just my two bobs worth. . . DYOR