I am not going to vote for the Fenix offer tonight. I’d be...

I am not going to vote for the Fenix offer tonight. I’d be surprised if Rio’s offer doesn’t go ahead. It makes total sense for them to own the deposit. They are being tight arses and offering substantially less than Miracle was offering ( thanks very much FIRB ! ). I suspect they were always planning to bid but wanted to see Miracles offer fail first so they didn’t have to pay that much. Then Fenix made an offer. They have positioned the offer just above Golden valley’s - same price but we get to keep the other assets. Again being tight arses. The thing is that for a lot of us we would rather take a 31 c offer from GV than 31c from Rio that doesn’t go into our pockets but instead can be used by the company. What has been achieved by CZR in the last 12 months ? Has a single drill hole been dug ? I would rather 31c in my pocket thanks. Why would I accept Fenix offer at 0.98 to 1 when I can buy Fenix shares for less than 31c if I wanted to.

So we have had 4 interested parties all that see value in Robe. The best offer was Miracle’s but the FIRB stuffed that one. The other 3 are all the in same ball park. Suspect someone will have to seperate themselves from the others if they want to win. The fact that Rio has now shown interest makes me think they will win in the end as they have the most to gain and the biggest pockets. Will others be able to push Rio to bid higher or will they abandon efforts knowing they are unikely to win. I hope they try to push Rio higher. Personally if GV does come through with a binding offer of 31c I’ll take that over Rio. That’s what they get for being tight arses.

GLTAHs