Good post Fluffy.I think the takeover range you mention is in...

Good post Fluffy.

I think the takeover range you mention is in line with me expectations.

I say this because I was a holder of POL (as you know) when it was taken over my MIN. At completion of the takeover (after several increases/sweeteners), it valued POL at around $100m. This was for yilgarn 25-30mt JORC @ 58% fe, plus big pilbara CID tenement alongside FMG etc (target 300mt@55% fe), plus large land holding in the Yilgarn, and various other targets (basic summary).

This is a similar swag of goodies as what CAZ has. In fact, POL's pilbara CID deposit is adjacent to CAZ tenement which it currently owns 49% with the soon to be listed Winmar.

One point of note is that CAZ's parker range is LOW phosphorus, and potentially could provide perfect blending product for MIN Carina product that is in the higher range for Phosphorus.

If the price is right, CAZ represents some excellent synergies for MIN. But as you say fluffy, the region is attracting other players/investors also and i'm sure most have or are watching closely as we speak.

As was the case with POL, CAZ have a good resource(s) in a favorable developing location (infrasture/rail/port) at a time when companies are looking to secure projects/product to secure/capitalise on high iron ore prices.

Just of interest, does anybody know how many mtpa space is up for grabs at Kwinana?..I see MIN are looking at initial 4mpta by late this year (recent qrtly). Could we assume the remainder (if any?) on offer at Kwinana is ear marked for CAZ?

cheers.