the short-sightedness of this deal, page-21

Westcott,

Again, has Rio bid?
Will they bid. Logically no, as even Matt has acknowledged they will grow their DSO business (Pilbara and perhaps Simandou) which are much superior.

Your "research" posts on lease ownership, infrastructure options, history of various players and the like are thorough and well worth reading.

But when it comes to value or commercial acumen, you toss up concepts such as SDL is worth $1/sh from some alleged third part conversation,or $3-4/share based on what a broker said 5 years ago. Very nice, very round numbers never with any financial analysis what-sover(DCF, market comps) attached or back-up.

You have ignored the market, your own Board's recommendation, and somewhat surprisingly even the data-rich IE report.