Ann: Becoming a substantial holder, page-65

I am unsure Glencore care about the sp offer as I believe they were only ever there for the ore and their holding in the scheme of things was quite small. To get the ore they need to offer the best price for avb's clean concentrate so I don't think they were getting any from AN. I would not be surprised that they chase the ore from ozl as part of accepting the offer. Also I don't see Glencore making a move on avb now but a combined ozl/avb in a few years may be suitable to such an entity.