Credit Suisse presentation, page-80

Re "I can't see WPL making a decent offer. They made an offer to OSH I think with a 23%"

Nothing is a certainty in the share market and every entity is different.
However, to use the example of OSH, you have to ask youself this question. Does OSH has a likely hood of tripling their resource in a few months?

According to what I can judge by, WPL based their calculation of the resource on 300+mil, not 560 mil. Even on that basis, the price $3.74 was a good buy. Our RISC audited resource is now 640 mil and that was before connectivity was established. There is another RISC audit about to be finished inclusive of SNE6 and possibly Sirius. The chief geo of FAR has openly said SNE is between 3 and 5 billion. Well, let's forget 3 billion and just go for an upgrade to 1 bil. That is 3x the initial resource in a year.

Then there is A2 and A5 and DJ FAN S etc. PC will let that go?? don't think so. However, having said all that, I hope he does let it go and let FAR be in a company making scenario.

Of course PC can always buy out the PE rights! He better hurry though, cause the RISC upgrade coming out may be much higher and of course FAN could come in as well.

I am looking forward to Monday trade.

KKW