CSA Acquisition, page-14

At the conference call on 23rd April they said...

OPERATOR: (Operator Instructions) Your next question comes from [Jesse Lou], a private investor.

UNIDENTIFIED PARTICIPANT: So just wanted to clarify something because there's been some rumors flying around in terms of AMI potentially wanting to look at acquiring CSA. Could you just talk me through the validity or, I guess, the lack of validity of those rumors?

JAMES BRUCE SIMPSON: I can say that there was a process that was running with Aeris as was publicly announced. Aeris has certainly put a considerable bid on the table for CSA, and that deal has fallen through. I'm not sure what Glencore intend to do with the asset now. And we're just sort of waiting and watching as to where they move next. But certainly, at those prices, we didn't see the value in it. So we haven't been going into any process with Glencore to buy the operation. At the moment, we're doing a standing-and-watch process.

UNIDENTIFIED PARTICIPANT: Okay. And would you be able to, I guess, give me an indication as to what might be potentially a price range of value that would, I guess, make AMI want to get back on the potential bidding table?

JAMES BRUCE SIMPSON: Look, I can't really comment on our view of the value, but certainly, we saw the price that was put up by Aeris as well over what we would pay.