For what it's worth my take on it all is that sd/polo are...

For what it's worth my take on it all is that sd/polo are selling out because a t/o is not realistic. How do you sell a company based on 600mlbs in the dfs plus we reckon there's the same again in the rest of the licence area? Who's going to pay billions of dollars without solid resource figures? Why would ext sell the company for only the value of zones 1 and 2? The exceptional success of rossing south has made a t/o very difficult to negotiate from both sides. My guess is SD never wanted to go mining he now recognises he's not getting the result he was after, he's already made millions from ext so it's onto the next thing. I've always seen the general consensus on bb's to be that sd was the driving force behind t/o machinations and blocking the merger of kah and ext to prevent rio taking the prize on the cheap. The merger can go ahead now and those who want a slice of the u can take a chunk of kah or ext and stump up the capex for guarenteed supply. Ext is an excellent long term hold but i was in for a t/o.