Trireme, I understand everyone is disappointed that if RMS was...

Trireme, I understand everyone is disappointed that if RMS was going to attempt a takeover it probably will fail, the fact that it may end up as a simple capital raising at about 60 cents a share won't be too bad a result for the company. In defence of the Ramelius offer, I think it is important to remember that a major DIO shareholder(I think it was Baker Steel)who owned about14% of the Dioro shares only decided to give Avoca those shares during the last few hours of the closing of the first Avoca offer. Without those shares Avoca would have only ended up with 30+% of Dioro. Ramelius had no way of knowing that was going to happen, in fact I spoke to the Dioro company secretary David MacArthur less than 12 hours before the close of the Avoca offer and was told that he had been given a verbal assurance by Baker Steel in UK that "There was no way they were transferring their stake in Dioro to Avoca" I hope this helps to explain why the RMS offer at the time did not seem at all unrealistic, I still think the RMSW offer is the best one for Dioro but of course I'm biased.