article in today's age, page-4

Yeah had a think about that idea (RE EME offerring shares for JRL)...not a bad idea, though it would be dilutive for EME (at 2.5 shares for every 1 JRL share), ie more EME shares would be issued than the amount of EME shares cancelled...so that would cause some downside (at least short term) for EME SP most likely.

I would probably prefer the cash from a third party taking JRL's EME shares.

Or even better, a third party to completely TKO EME at a significant premium (JRL would have a big bargaining position here)...that would give JRL a heap of cash for project activities and of course a distribution to shareholders (as a franked divvy as per their AGM).

Cdchi1