what chance a competitive bid?, page-15

you guys forgot one inportant part. The Government. I would not be surprised if the Government encourages other non Chinese companies to make a bid offsetting this against some other grants environment or otherwise related.

This does few things

1) Assets remain Aust - Good for Gov
2) People keep their jobs ( those that are left do)- also good
3) Banks get their money - good for our banks and very good for offshore banks

v's some concessions which will be large no doubt.

Of course before rushing into this scenario they need to think through the counter bid scenario. The fall back plan to ensure that nothing else happens.

hence I see it plausible that you get another bidder appear before 17/3
Government annount finding of not in national interests or probably ask for more time. This stops Chinese counter bid scenario. If they didn't do this all their effort may be in vain as Chinese mak improved offer. ( They have heaps of USD and rest assured they want to get rid of them).

Based on this thinking and the fact they have one month reprieve from banks and deals on sales for assets are close I took a small trading position on Friday at 0.615 cents.

Finally no government, in this environment, in their right mind will stop bid and put company in admin. If it did it would shoot itself in the head , politically of course.