I don't think it will be easy to buy GIR out - certainly not...

I don't think it will be easy to buy GIR out - certainly not cheap anyway. Look at the diversity of direct and indirect interests - its massive - like trying to guess the number of jelly beans in the jar - you know its a lot but how much is a lot? More likely they will sell some of their subsidiary stuff to get money to mine themselves and then either sell or JV the really big stuff.

Also, the holdings are very tightly held - have a look at the numbers traded as a proportion of the company - it is low in my book. Look also at its major sub PMH which is even more tightly held (by many of the same big players who own GIR). This is a close knit family here and it is planning to not only be wealthy but also in control for some time IMHO (humble and honest).

Ians