The RRL announcement is talking about a script offer.
Just looking at the RRL share price and it has been mauled of late probably by indiscriminate passive funds so there is probably a little extra inherit value in the 11.4 cent number due to RRL’s current smashed share price.
We all know that if RRL get hold of the project they will make it work as they are experienced with mining similar style projects at Duketon.
I was just discussing the comparatives strip ratios between Bibra and Moolart Well recently.
https://hotcopper.com.au/threads/an...4369370/page-15?post_id=35050073#.W6hKCxo_WhA
Although I think it’s a steal at 11.4cents I’d probably be happy enough to accept the RRL script deal because RRL is not trading at some ridiculous high and the project will be value accretive within RRL.
Eshmun
Ann: RRL: Response to Media Speculation, page-22
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