Dear all,I have received advice from Ian Kirkham in regarding to...

Dear all,

I have received advice from Ian Kirkham in regarding to my query if the impending upgrade is still due in August - as DC had advised in his last Opening Brief. below is Ian's advice:

ESG Directors have commissioned Grant Samuel to provide an Independent Expert?s Report including an opinion as to whether the proposed Scheme is in the best interests of shareholders. The report will include an independent (independent was emphasised in the quote but didn't come through in the cut and paste) technical expert report, which will include updated reserve estimates, both reports will be disclosed in full as part of the scheme booklet to shareholders in mid-September.

Kind regards
Ian Kirkham
CFO

Phone: 61 2 9251 5599
[email protected]
www.easternstar.com.au


So in reading the above:

a) Perhaps we shuld lobby Grant Samuel (as well as Tim from the Australian!)
b) the independent report will consider the reserve upgrade estimates.


As Hardmano and others have said, I reckon there is still more to this story to play out. AND, as STO mentioned in its presentation, share price offer is based on no material change in ESG. (a reserve upgrade estimate is a material chnage in my view)!!

Time will tell!

Mr P