Ann: Investor Presentation, page-5

I think the implication could maybe more along the lines that if I were a gold major and I wanted DEG - I wouldn't even attempt to try to accumulate DEG on-market, it would be far simpler to make an offer to acquire DGO (or buy the DGO owned DEG shares from DGO in a simple transaction) and if successful that gives the theoretical predator 16% ownership of DEG straight away, which is a decent blocking stake that would discourage any other predators, then its just a case of sitting back and letting DEG drill out Hemi and whatever else they find at their leisure. And if it were going to be an offer for DGO it would want to be a serious and good offer, not some silly low-ball attempt....

Is there some fatal flaw to that scenario that I haven't thought about?