aoh v rxm, page-2

novac,

the other issue to add when making the comparison is that AOH are not that far away from cashflows @ Kylylahti.

Also, if Xtrata likes what they find @ Roseby they are obliged to purchase the project - that is also a decision that it not that far away.

IMO, I'd be very very surprised if Xtrata doesnt have the foresight to acquire and maintain a strategic position in AOH in the near-term. IMO, A takeover will be cheaper than the Market Value of Roseby post drilling and resource definition.

cheers
Split