Yes or No, page-38

samscout - Having studied Applied Finance, and applying that learning to the real world, you'd surely realise that the job of the "independent experts" is simply to deliver a Report to conclude that the proposed transaction they've analysed can be considered fair and reasonable to the parties involved.

I can assure you that "taking the current price of gold and extropolating out" is not how Board's analyse potential pricing when they look at takeover targets in the gold sector and not how bankers appraise lending proposals from gold miners.

As for the Board accepting the Report, it's a very long bow to suggest they've breached their fiduciary duties. I'm sure they'd argue they had the company's best interests in mind when they began their takeover of RED. And I'm sure they'd be able to point to plenty of precedents to show that the predators share price usually falls after an all scrip bid for a target is made (BHP immediately comes to mind).