bhp, page-5

BHP has to place a signficant amount of value on the Railway Deposit because the mineralisation extends into their ground. If they get hold of Railway it gives whatever they have even greater economic value.

It's all about logistics!

Imagine if you were the chief commercial officer responsible for acquisitions at BHP and you let Railway slip away. Not good IMO.

BHP is all cashed up ($18 billion). Railway is a no brainer for BHP.

It has been widely reported that BHP wants to buy companies before their targets have more reason to fight for higher valuations. Looks like this fits in with what we have seen this week.

I just hope that UMC get a professional negotiator that can sit down with the likes on an Alberto Calderon from BHP and do a good deal for us the shareholders of UMC.