the way forward, page-117

"you then came along and said it would was easy to value MLS relative to peers etc etc."

that's correct. I did say that. it was pretty easy. lucky for me I was mostly right. oh, your well research friends didn't do that research ?

"JV is nothing more than capital raising on a big scale. All MLS needs is capital"

that's correct too.

"So your JV would have been nothing more than a capital partner on a large scale."

yup.

"MLS would be stupid to consider this with the price so low."

maybe.
depends what the price was, doesn't it? (hint: it's not the same as the share price).
maybe the price they wanted was to high, so the deal broke down

"That is why they are going to make damn sure they deliver the most impressive drill results in a few months."

that's right. only not like the last damn sure drilling.