Yes, this has been a possibility for a while. From being a long...

Yes, this has been a possibility for a while. From being a long term holder and following this company so closely, I can see it was clear that RIO wanted to merge Kah and EXT back when Peter was the driver of the company, Peter was clearly working towards a JV with RIO.

Hohnen stood in the way of proceedings and hence the falling out and ousting of Peter. Although we know that Peter gave a date of resignation in order to complete some works before he was gotten "rid of" so to speak.

From this Hohnen and RIO were constantly "enemies" Mark Hohnen stood in the way of what was planned for the company. Had Hohnen allowed the JV to go ahead, we would have all been looking forward to a nice nest egg with beautiful dividend payments.

Now, it appears to me that RIO have gotten their way. The chinese buy and merge the companies and RIO will mine and manage the resource for them. There is only one difference here.............our dividend payment.

Our saving grace can only be that our shareholders do not sell for this price and a better price be offered to entice us out.

At times I have praised Hohnen because at least he was getting information out to the Market in London, but, in the big picture........

Now I could be wrong, I have been many times, but this is exactly how it looks to me and I sit here refreshing my screen in the hope that others who have said RIO will trump this deal are right. I hope they are.

This is very dissappointing for me, we know what we sit on, but market conditions on a global scale have dictated what we get. The russians would be a likely contender, but if my memory serves me right, they wanted it even cheaper, they wanted it for a brown paper bag left at the back door.

Damn I hope I am wrong and for this reason, I am not selling and wait in hope for someone, anyone to make a fantastic offer that I can not refuse!

I have not changed my disclosure, I still hold my stock with a LT buy on it. Its not over till the fat lady sings, however, its up to the shareholders if they sell or not. If they dont, we may get a better offer, if they do, we are shot!

Harlee