TO possible but, page-4

He's basically saying that anyone wanting to launch an T/O would need to offer somewhere in the vicinity of 30c/share for the proposal to stand a remote chance of success. That would value the company a whisker under $800m.

I think that's entirely possible (and a boatload more) down the track with a better NP and also BS actually producing and also LJ well on its way to producing. Right now, however, I think it's just an aspirational statement. Let's just cool our heels and see what pans out. There will be plenty of opportunity to jump at shadows but sitting pat and seeing what unfolds over the next 12-24-36-60 months is what I am doing. (It's a wide time frame, but that's to account for the potential to unfold, remembering that none of us can control the future which can taken longer than our impatient expectations.)

If nothing else, it speaks to why the previously offered 6c was so fanciful, imo.