Ann: Dividend/Distribution - BSE, page-25

Its a good analysis and glad you are doing it and providing that alternate view.
Do you think Tim Carstens has thought about that ? i imagine he has done nothing but think about it and is very confident in choosing to pay this dividend rather than holding the cash.
Common consensus is that Base will sell 20% or there abouts of Toliara to a partner in the sands industry who is the offtake partner for most or all Toliara produces. Depending on how much that sells for determines a re rate of Base sp accordingly.

		Base Toliara
1	JV Partner	20%
2	buy in	$200,000,000
3	base value	80.0%	per share
4	ongoing value	$800,000,000	$0.68

		Base Toliara
1	JV Partner	20%
2	buy in	$300,000,000
3	base value	80.0%	per share
4	ongoing value	$1,200,000,000	$1.03

		Base Toliara
1	JV Partner	20%
2	buy in	$100,000,000
3	base value	80.0%	per share
4	ongoing value	$400,000,000	$0.34