Andrewe,Your arguments you justify easily with what perceptions...

Andrewe,

Your arguments you justify easily with what perceptions you currently hold of AGM and it's proven nickel resource & reserves. What you do not take into account is what you do not know of AGM. That is the point I and other AGM holders are making in suggesting the $1.00/share is inadequate and opportunistic. Why else would ZFX be making the bid just prior to production commencing, and secondly, ZFX are aware of the mineral wealth holding Rosebury located right next door to the Avebury mine. (The rosebury mine has been operating since 1936 and is aiming to achieve a life of mine beyond 2020). Now wouldn't that suggest to you the geologist's from both parties are in the know as to the extent of the rich deposits in these tenements.

You can expound as many figures as you like Andrewe, but if you "read between the lines" the information I have gleaned from this ZFX bid and AGM rejection strongly suggests there is much more resource in the Avebury precinct then you or I are aware of. And the sad thing is Zinifex, want to "steal" it for measley sum of $1.00/share whilst being fully aware of what the area holds and declaring that the offer is more then fair value. Fair value for what is currently known. And what is currently known is a 10 year work up.

Once production begins AGM will have more resources to establish further upside, production will double to 15,000tpa throughput and the mine life will extend further then the 4 years you have stated.

OXR by the way will not have PH up and running until the Dec quarter. Why not mention the BHP/RIO takeover where RIO and it's shareholders are waiting for a fair deal from BHP before beginning negotiations.

Realistically, Zinifex do not deserve this mine, the 10 yr work up and the resources the Avebury precinct hold, the riches of which will go to ZFX shareholders for doing nothing but holding ZFX shares. The company, AGM & it's shareholders deserve better.