Dear AllMRE is under the effective control of Xtrata/Glencore...

Dear All

MRE is under the effective control of Xtrata/Glencore already.

The proposed takeover of JBM now raises the more immediate prospect of a takeout of the MRE minorities.

Xtrata/Glencore needs to do this to release the synergistic benefits of its various nickel assets in Australia which had been previously valued at $100 M per annum.

The independent Directors may well be under some pressure on appropriate pricing for MRE - $9-11 would appear likely in the current market.

Regards Eos