latest from proactive investors 05.12.09, page-30

Chubbito
I actually got that SD via KAH & Polo controls the game. I also get that KAH & polo aren't going to deal themselves into a weaker position (willingly at least.... that was perhaps the subtext to the patience game of RIO's ie RIO can wait till one of them gets into trouble...... hey unlikely for sure.... remote even.. but wise heads say the GFC aint all over.. anyway.. RIO has more patience than SD in such a scenario) Even if one of them does not get into trouble forcing sale of a part of their stake it can be all be considered for sale..... my point is simply that RIO will be part of any deal that sees this stake change hands.... There are sufficient synergies in having RIO perform the mining that any offtake partner/ buyer of the Polo KAH stake would be wrong to go up against RIO on this basis alone. In other words there is enough money & effort to be saved by allowing/conceding/agreeing for RIO to mine RS that any aquirer of the KAH Polo stake will benefit...aka WIN WIN..
I'm not suggesting your dilution to oblivion scenario for RIO would not be undesirable for RIO, only that RIO will not allow it to become a competetive bid process for the KAH Polo stakes.

IMHO It will be a collusive effort ironed out in private whereby RIO brings its synergistic "plant next door" and 20% stake blocking compulsory aquisition to the table. But hey maybe China is still P!55ed at missing out some time back... but I just think all parties are more pragmatic than that.

I got on this thread in relation to this quote being labelled as wrong wrong wrong

"It is still very much the obvious developer for the project and its big shareholding in Extract and Kalahari may mean it can successfully prevent its sale to other parties and hold out for a deal which satisfies all parties."

I just think it is correct...... oh.. and therefore don't hold your breath waiting for a competitive bidding process.

Maybe China inc is lurking... no it's Areva.. no it's... Every thread has such a scenario whereby holders believe the market has got it wrong and one day soon etc etc that is why we hold shares because we believe we see value better than the market.....(unless you trust mr squiggle.. sorry chartists)....

I've (We've) been lucky they found the lbs in the ground, will they find more? Is it sufficiently big already that it's really peripheral if they find more? I'm thankful there are posters who share their valuations and insight as to what a price might be for EXT. I prefer to be cautious in anticipating competitive bidding for what will be such a large capital investment/long life mine.