hi missionagree with your comments and you rightly point out...

hi mission

agree with your comments and you rightly point out that everyone is entitled to their opinion. I was just pointing out in not so many words that if you're going to have a crack at someone for making unsubstantiated comments, you'd want to be pretty well researched and have the information to back it up. Stef was quick to have a crack, but the basis for it is just as weak (or flawed as he/she put it) as a gut feel on a takeover. I think it's more than reasonable to keep people honest, but if your going to continue to have a crack, be sure that you can back it up yourself (not talking about you mission, just generally).

I'm not sure I agree that takeovers are few and far between. The market has been littered with takeovers of substantial and mid tier miners for years now. It's a pimple on an elephant compares to how many companies are out there, agree. However, it's just about being in the right place at the right time. A few years back, I agree that PNA would not have been the most attractive t/o target. My feeling is that their international profile has significantly increased and they are no longer the ugly sister to the likes of OXR (at the time). China is frankly desperate to continue to secure the supply of resources going forward. I'm not convinced that GRAM will be the suitor, but they will clearly play a big role in whoever is (if anyone is), given their blocking stake. As for the timing, as i stated, it's just a guess, so who knows. But if you were going to takeover PNA, you'd be smarter to do it sooner rather than in 2 years when the POC is $4+ and they have 2-3 mines humming. And I think it's very hard to argue that they would not be a takeover target (as would be the case with many many others). What plays hugely in their favour is the mining tax - I was overseas recently on business and the first question I got was about the mining tax. make no mistake this is a massive global issue and has damaged Australia's reputation - possibly for good.

One thing I agree with stefanis on - probably no point in continuing to flog this dead horse any more.