thanks for that gizmo,It appears the Namibian Ecoomist is...

thanks for that gizmo,

It appears the Namibian Ecoomist is beating the old jungle drums again - this time on behalf of their mates at Rio in support of the forlorn hope that RIO is given EXT at a knockdown price. A set of drums are also being beaten by "a well placed source in Australia" for a knockdown price to RIO (RIO the source? - surely not!)

They've conveniently overlooked, or haven't read, John Mains statement at EXT AGM Nov 24 2009 that in his view a twin resource the size of Rossing South may well be on the cards in the same EXT licence area.

For the Namibians Economist view that "the only hurdle at the moment was that some of Extract shareholders are demanding more money" read "the only hurdle at the moment is that all Long Term EXT shareholders at the moment (apart from RIO)are expecting to receive fair market value"

RIO unfortunately will have to get used to the real world and pay the going price or, as others have posted, some sovereign state or well heeled Company will whip it away.

On a lbs in the ground value of US$6 EXT is at a MC of US$3bn, imho,(fully JORCd Z1-5) an absolute steal - given John Mains view of yet another Rossing South sized Resource, yet to be proven, the MC should be US$6bn - that's if holders have the patience to JORC it all up - if not stick a clause in the sale agreement, not rocket science, or is it?