ChristemIt was I, who raised the prospect of trouble ahead if...

Christem
It was I, who raised the prospect of trouble ahead if Exxaro were to exercise the put option to put financial pressure on RES and then put in a lowball bid for RES.
The significant point I made and the background to my concern was that RES would not release the financial consideration involved even when pressed and that concerned me then - still why would they not release the amount now / why be so vague to just say not being material to existing cash reserves. An auditor would suggest that a material event would be 10% equivalent of the cash balance or $1.5 million. They had no hesitation saying that the freehold was bought for $4 or $5m or whatever it was - just very rude of RES to effectively tell me it was none of my business and from that I was concerned.
On the face of it it looks like a really good deal for RES even if it was $5m.
The cynical side of me suggests that if the new resource acquired represents 30% of RES's new resource then Exxaro are placing a $12m undeveloped valuation on Res's existing resource against what we already consider to be a very low market cap of $62m - what do they know that we dont? if anything - maybe it is just an outstanding deal for RES, market seems to think so.
GLAll