MDL have punched in a heap of coin at 4-5 times the Base...

MDL have punched in a heap of coin at 4-5 times the Base takeover offer, so that wouldnt be a good outcome. But I can't see MDL rolling over and allowing the offer to go through, particulary with them MDL interests of 40%. I see MDL offering their own share deal, but would people really want them?

As for the direction of ilmenite. It's struggling, much of it under $100/t and no miners are making money. However, like iron ore, every $10 increase is straight on the bottom line.

The negative though is the amount of new ilmenite supply coming online - particulary Base and RIO Titanium South Africa.

P

(I dont own MDL, BSE or WTR ).