what we might expect as an opening offer, page-8

Do You think Xstrata will make a takeover offer for all of Exco's assets ??

I feel as though Xstrata would bid on an asset level for the resource that is close to Ernest Henry.
All they really want is the ore.

This would leave Exco with Cash in the bank, White Dam & the chance to do it all again, maybe with a one off special dividend to shatreholders.

I'm not sure Xstrata would really want White Dam or any of the other exploration assets.

To be honest I think Xstrata have left this all a bit late, SOL may well be in the box seat now, maybe in a JV to develop as a stand alone producer.

IVA have a fair bit on their plate at the minute, with the construction of Merlin about to begin, so they may well be happy if nothing happened for a bit, so they can put all their attention on Merlin.

Lion Selection are a venture capital & long termer, so they may just go with the flow. At least for now.

Thats how I see things at the minute, I'll admit things have changed quite a bit since I first bought in with a small holding, as a short term investment.

Will be interesting to see what happens.....

cheers