Ann: Recommended cash offer for takeover by schem, page-20

re: Ann: Recommended cash offer for takeover ... Personally, was 1st out at 33

My personal evaluation for my investment purposes is EOC started a myth that Rockwood was a Tier 1 asset, which generated interest, such as the rumored 60 cent offer, which saw interested parties enter the EOC data room despite shareholders not having access to the info in the data room.

As investors, we have never been provided with the raw coal specs of Rockwood and therefore are in no position to evaluate whether Rockwood is a tier 1 asset or not?

My view, based on the geology, is Rickwood does not have the same kind of coal as MCC next door. My view is the Rockwood coal has extremely high raw (unwashed) ash, thus is not a tier 1 asset, but, instead, a high opex & high capex deposit, also with irregular geology.

IMO, the takeover price of 38 cents is for Orien Downs. I was happy to hold my stock for the long term development of Orien Downs but the Board recommending the 38 cent offer influenced me to sell.


As for Xstrata, their mine & deposit that abutts Orien Downs is massive and Orien Downs is a spec of dust in comparison (thus unneeded & probably unwanted).

Speccie World is full of dud investments & the EOC Board recommending the 38 cent offer does not put EOC in a favorable light.

Hopefully EOC gets a better offer but, at this time, i.e., now, the 38 cent offer supports my personal condemnation of Rockwood, I have posted for months now.

EOC have never made public the raw (unwashed) coal specs for Rockwood, which is an unfavorable sign.

Regards