jrl net asset value summary, page-11

oze

A TKO bid for EME would have the stock halted, hence why high probability thats what it is.

Not sure what you mean by your 'best case' scenario? Best case for JRL or EME? Not sure as a JRL shareholder I would want a cash offer to EME for the Bigrlyi project...that just leaves JRL in same position it is at the moment, ie big investment, but a massive discount in their shareprice. Of course EME might do a cap return to shareholders from any cash proceeds, and so JRL would get some cash like that...but thats messy.

I definitely want a full TKO offer as my first preference, JRL to sell their stake as a second preference. If the former, I would like any distrbution to shareholders to be an inspecie distribution of the EME shares...though i doubt this would happen...in fact, JRL have probably already agreed to the TKO bi (ie...if you bid this much, you can have a concrete agreement to have us agree with respect to our 46.8M shares")

Anyway this is all speculation...lets just wait for the ann lol.

Cdchi1