Ann: Response to media speculation, page-101

I think many happy that at least something is happening.
Too bad so much secrecy. I assume that it is CODELCO demand.
I do not think it is nationalization or like, because LPI agreed to access to books.
Offer is likely, but I do not expect it will be over $1 (I will be happy with it). My wild guess it $300-400M USD for the asset; only because CODELCO is backed by state run by socialist.

I think likelihood of offer not more than 50%; there are other options - joint venture or large scale investment at premium price ($50M for 30% - but we will live you alone...). It can be even more complex (30% of Stage One for $50M and 50% of stage two for $1).

I am not selling despite the surge. Hope it is right decision.

Good luck to all.