no more offers, page-3

As a holder I am deeply pissed off.

This company sits on a major gold resource at Lihir, The hard yards have been done, POX technology is mature and upgrades will support the future production and costs.In Africa they are drilling holes in the ground to find more gold and in fact are even producing the stuff. Gold at US1200 /oz.They are in the right place!! It's all good!

I think the issue here is managerial/board level incompetence. Takeovers happen when one mob reckon they can do a better job of running the show than the other. NCM are spot on on this one. Our board has had 15 years to get it right. At least I suppose the board are conceding this by recommending the merger as being in the shareholders best interests (NCM would do a better job , but as a final demonstration of their incompetence they have under sold the company.

I believe what should have happened was LGL going for the smaller Africans i.e. PRU etc, THEN awaiting Barrick et al.