aut possible takeover, page-5

Redmax,

I've heard John Stewart is a tough negotiator but the fundamental difference between EKA and TXN = TXN has both cash and a funding agreement.

With $20m odd (245m shares = say 8c cash/share) and allocating $0 to all the other targets, levels and leases, an offer of $0.33 would equate to ($0.33-$0.08 x 245m shares =)$61.25m for the 7,196 ac of EFS = $8,512/ac.

the lowest value deal I've seen recently is about $13k/ac (Average about $20-$24k) so I'd have thought TXN management wouldn't even present it to the shareholders as TXN has the luxury of being able to just do nothing ... unlike the EKA board which ran out of cash.

Who knows though? I certainly can't say my crystal ball has been working too well lately.