paladin buying???, page-9

It would more likely be Xstrata than Paladin buying.

Referring the agreement between X and URL it would work out cheaper for X to takeover URL than spend the required remaining amount of SEEP exploration.

Think about it, if X spend the remaining 7 or 8 million on the exploration, they must then be required to purchase 51% of the SEEP resources at market value. That then triggers another clause requiring them to purchase 51% of Roseby.

Why would they put themselves through that expense when they can pick the company up on the cheap no and get the whole lot now at a fraction of the cost?

That same agreement IMO, would not make URL as attractive to other companies for a takeover bid (why share the spoils?) which is the very reason it came about (to block CopperCo's takeover bid a few years back)