Merrv, anything is possible but NOT at this bid price. The DFS...

Merrv, anything is possible but NOT at this bid price. The DFS shortly to be upon us will quantify metrics and values significantly in excess of that reflected in this bid and therefore will not IMHO be approved by either KAH or EXT shareholders. Nor will any future bid by either the Chinese or any other party be able to hide behind tsunamis, earthquakes or any other convenient ruse to pitch a low-ball offer, because the DFS will expose the true enterprise valuation at current and future resource prices.

Also, remember that although not actually formalized or even approved by all EXT SH, the merger idea was between EXT and KAH in it's current incarnation, not with the Chinese. I think the distinction needs to be drawn because EXt shareholders I believe, stand to benefit greatly from this merger because it's exclusively about shareholder value and enhanced T/O potential through extra register liquidity, not supply of uranium as it is with the Chinese, or reinforcing a flagging uranium division as it is with RIO.

Now, having said all the above, if the Chinese want this badly enough, they will pay what it's worth, or at least considerably more than their current offer. Once the price is acceptable to both KAH (not just their directors and their minority holdings), AND EXT shareholders, they can merge with whom ever they like