Hi ironman...I somewhat agree and I have said as much that...

Hi ironman...
I somewhat agree and I have said as much that Hancock will do whatever they do towards their own ends. But so far we have someone with deep pockets who is talking positively at least.

Going back to June, I said that a new investor (and I mentioned RIO as an example) could launch a raid and even an on market offer at a price that still wouldn't get to 50% but would provide them with effective control and deter other entrants. I have been contemplating that Hancock sees off ALB then launches an "on market" takeover at say $3.25 per share. On market takeovers don't have the same lengthy lead times as Schemes of Arrangement and can be conditional etc.

So an on market offer by Hancock during the commissioning phase is well on the cards imo. If they can reach say 30% of shares or more at this price I think they would see it as a success. TG and management may choose not to accept the offer nor perhaps to recommend it. In any event if Hancock got to such a level or above they will have what they want for now until some future opportune time when they go for another offer. No one else would bother trying to get onto the register if Hancock had their 30+%. I hope it doesn't happen.

regards
DF