I don’t expect Rio to bid because if they were going to make a...

I don’t expect Rio to bid because if they were going to make a bid they would have by now IMO. I mean the opportunity could be gone tomorrow. Unless they have been in discussion with Creasy and know there is no danger of this. I do find it odd that we now have had 3 companies - miracle, Fenix and golden valley, all express interest in buying our iron deposit yet the company that stands to gain the most from it is Rio and it appears that they can’t be bothered. They already have existing infrastructure and a rail line in place and 3 companies that don’t have any of this think it’s worth while. Are Rio arrogant - is this too small to bother with ? Do they have managers that don’t really care about increasing profit for shareholders. Admittedly it’d be a tiny increase but it’s also a tiny investment and a profit is a profit is it not. Surely if a company can make an easy 100 million profit it should. I think it’s a bad look for Rio.

I’m also still pissed at the FIRB as they cost us $100 mil for no good reason. Any political party that promises to overhaul the FIRB will get my vote. Sack those that can’t look after Australians and get things done.

Anyway, I’m not really sure what to do now. I would do whatever MC does. If MC wants the Fenix deal to go ahead he probably needs to let shareholders know before the 7 pm deadline so we can push acceptances past 75%. I own a big parcel of CZR. I thought it was a sure thing with $100 mil on the table with what I thought would be a straight forward FIRB clearance and that Rio would likely bid aswell.

If there is no further news I will probably accept Fenix bid late tomorrow. I would rather 31c cash than Fenix shares but there isn’t enough certainty for me in the golden valley non binding bid. I guess I will decide one way or another late tomorrow.

GLTA long suffering holders.