pna running the ruler over rxm ?, page-2

Mission,

Imho as PNA probably has better investment options in Laos I'd prefer see us grow on these, build up a bit more cash and cash flow, and start returning to shareholders before tackling anything that big. It's not the acquisition cost that bothers me so much as the CAPEX, plus a perception I have that RXM are going to have high cash costs - what are they projecting?

Furthermore, if it is a good asset, it's surely a much better fit for the cashed up OZ. I'd hate to have PNA overpay to outbid OZ who must also me able to find management and operational synergies -perhaps tax ones too ?

EL