Hi galvanise,I am aware of the fact that JBM had the books open...

Hi galvanise,

I am aware of the fact that JBM had the books open and put an auction process in place.

But this will imho not stop one of those majors having a second look and change their mind.

Most thought that xstrata had LIM in their pocket with the directors putting all their shareholdings up and supporting the offer.
Not only that but a huge breakfee was put in place. We all know what happened.

Its not always what you read in the press during these take overs but more of what kind of value a company like JBM represents and how many other companies like JBM are still in the market place left.

Well I can tell you here in oz we have no more JBM for the picking and the value in JBM is far from being unlocked with their tremendous new deposits that have not even been drilled out yet.

The market believes we could have a counter offer and I firmly believe that this is on the cards.

It may take another two weeks or so but I believe the best strategie is now to stay patient and wait.

good luck

jojo