market cap, shareprice etc, page-44

SBL,

I've thought it would either be SLR or RMS - both are in a great position in the Murchison, with cash AND a mill. It makes sense for AAG to go up the food chain as the corporate costs can be disolved into one company in theory reducing the cost per ounce in production.

If I wasn't so certain there is a new Top 20 holder sitting just outside the 5% I'd pay for a copy of the share registry. I just want to know WHO. I'd take 20/80 cash to RMS scrip in any deal (I believe the 20% threshold gives rise to CGT rollover relief in a scrip deal although happily corrected on this).

JT