I need to qualify my $1.01 is "20% under" fair and reasonable....

I need to qualify my $1.01 is "20% under" fair and reasonable. Of course, that is only MY OPINION. And I consider Zenith worth about 90 cents with no premium for control. So $1.20 with premium. Re the "independent expert", I will boldly say my opinion likely has more basis in facts and analysis than the "expert". Mind you, perhaps the expert sees some 'gotchas' in the data room, I am not privvy to. It is possible, hey.

Also, if no other cashed up private equity player can see the value in Zenith (as I do), then maybe I am just plain old wrong on the value. As the AFR wrote (some leak from management I am sure) "PEP should be congratulated for not DROPPING the price". My oh my!

But re any other suitor, perhaps on 30 July will appear Macquarie with a bid. Or maybe even Euroz with Westoz. But, if no other, new fund manager appears bidding more than $1.01, well I will admit I am wrong. I have never, ever been wrong. But maybe this will be number 1.

So we have ONE MONTH for some other buyer to appear and/or the price of gold to rocket (that would hamper a yes vote). Or heck, maybe even the overall market will crash 20% again and we are all happy to have been safely tucked into a WA Power Station. Mind you, I surely say, if the market crashes, I bet there is some way for the Cabal to not proceed - or lower their bid.

But when all is said and done, the Mrs did best... she bought at 48 cents. Mind you, Hamish, it appears, bought at ZERO a million+ shares. Good on ya, Ham'