We have to hold out for more. The offer is less than the KPMG as...

We have to hold out for more. The offer is less than the KPMG as below. $4.50 would be nice.

Our valuation range for a Western Areas share of $4.04 to $5.23 reflects a premium over the $2.48 closing price of Western Areas shares on the last trading day immediately prior to the Initial Announcement of between approximately 63% and 111%. This premium in part reflects a valuation of 100% of Western Areas inclusive of a premium for control rather than a valuation of a portfolio interest in the Company as traded on ASX