RYZ and Zmans,I think you have hit the nail on the head....

RYZ and Zmans,

I think you have hit the nail on the head.

Regardless of what the offer price is and the cash paid, the massive upside will be on what can be bought to the table.

If NMDC brought a lot of cash, and we drilled out Mount Bevan and other LCY assets, and there was nothing or the resources didnt pass a feasibility test, then we would all own shares in nothing. Regardless of what dilution there is.

So I think the big thing is the extent that NMDC can bring other assets into the company.

They arent going to invest $ millions to just get control of a listed ASX company. They will be investing $ millions to be able to have a vehicle to go and buy big projects as has been alluded to in the announcements.

I would rather be in a company where the major shareholder wants to make a lot of money for themselves and take us all along for the ride, even if I am diluted heavily, vs being a shareholder in a company that just continues to have one asset.

Give me a diversified mining group over a single commodity company any day.

I think the deal has merit, irrespective of the final valuation.