Ann: Federation Feasibility Study and Company Update, page-29

Aurelia Metals is now capitalised at less than it paid for Dargues a short time ago. It has two modern plants, two huge projects and a strip of prospective ground in one of Australia's most endowed provinces. Surely other companies are now sharpening their pencils and looking over the fence.

Anyone with half a backer would steal this company in a heartbeat. The Board have proven they can't even run a company let alone defend it against a motivated and smart acquirer.

I have had this up to my eyeballs and would fully support a takeover. There are cashed up companies that could easily write a cheque for this shell of a business. Any number of corporate raiders could buy the company, complete the two drives to the Federation and Great Cobar reserves, then sell it for a billion dollares in a couple of years when things turn around.

So many opportunities for so many raiders.

PS. I bet Redpath were showered with promises and are very displeased. What are the Redpath contractors going to do now.? They'll get sick of the Nymagee Hotel in about half an hour.

PSS - big cheer to Retail Anthony for having a crack. I listened in but would have been irrationally rude if I had a chance to air my grievences.