its quiet so is anyone game to call an ar?, page-28

Skul

My words were could be "construed as ramping" or something to that effect.

I don't view you as a ramper but you were making some rather large unsubstantiated claims?

Still don't quite follow the logic of a large seller appearing twice yearly followed by a significant increase in the SP. Happy to agree to disagree on this one.

GRAM may increase their holding a few percent but a takeover i believe is vrey unlikely.

As a WHOLLY OWNED State investment group they would have to pass under the Foreign Acquisitions & Takeovers Act (FIRB approval).

They have the nod to go to 25% but beyond is another matter. Probably more likely to work with PNA on an individual project basis.

As a general principle not sure whether PNA is takeover pedigree either while PK is limited to a 10 year or lower mine life. Probably a better case could be made for EQN or a host of other ASX listed miners with longer LOM.