Ann: Unsolicited Proposal from Leonoil Company Limited, page-3

I bet Perpetual are feeling pretty foolish after dumping their big stake at 6c.

this had obvious value in such a big store of liquid current assets that you couldn't go wrong back at 6c. Funny how the market was still too risk averse to jump in back then. Only now that 3 local operators all want the old business as well as the new resource is it finding true value.

I think it is now guaranteed that the new mine will go ahead and will be fully funded by one of the three suitors. Have to factor that into the price now.

good luck all. Still think this will be over 25c before all is done and dusted. 20c for existing assets and 5c for the value of the rutile deposit