I don't think we actually disagree about much. It's a matter of perspective. To a shareholder it's common to see that some sort of premium is paid to current value. Without thinking about why that premium would be paid it might seem like some magical premium that is paid just because it's a takeover play.
All I'm saying, is that from RIO's perspective there will be reasons if they pay any premium. I covered this in previous posts in this thread already. It's ludicrous to think 30-50% will be slapped on for no reason other than the word "takeover" being involved.
As for you not yet seeing anything to make you believe LE was off the mark. Have you read the Haywoods report? Same amount of Uranium assumed, LE got a minimum valuation 40-50% above Haywoods. Even toph couldn't get to LE's minimum value without increasing the amount of uranium from 200 to 250m lbs. Not sure why you're all arguing. LE being wrong doesn't reduce the value of Extract at all.
Z
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