Ann: Merger Presentation, page-579

If a merger doesn’t make sense I’m not against TMT completing all our EPAs, construction planning and tendering etc. then parking everything, going back to a skeleton crew and waiting for the V market to turn on a hill. We don’t have a huge number of staff or a long term lease on a huge office so there’s no reason we couldn’t do this for a 2-3 year period. We might also spend half of this time getting everything together being realistic

RCF and the board obviously don’t want this so it’s up to them to come up with a better deal.