glencore - dodgy brothers revisited, page-3

Dear Buc

Good questions.

1. It is always tough to wrestle a gorilla. I think Glencore are up to no good and there are a number of circumstances surrounding Glencore's actions which raise the issue of oppressive conduct. I have gone to ASIC with these. How far we will get is probably still an open question. It may depend on how many complaints go to ASIC and therefore what ASIC's appetite is to properly investigate this matter.

2. Technically, Glencore have already taken over Minara but I think you mean will they acquire enough shares to compulsorily acquire the remaining shares. This is a question of fact, but given the large number of shares acquired above the offer price and the few at the offer price, Glencore has already failed unless they have been illegally buying through third parties.

Cheers EOS