Hi
@Sharpey
If Wesfarmers did come knocking I would not expect much more than $2 on the table based on the LYC offer.
I would be very surprised if LYC shareholders would approve the offer, particularly given all the conditions on it, but I suppose given the uncertainties they are facing it may not be so bad at $2.25. It will certainly have the shorters running for cover as they have increased their positions since 1 March, what a shame.
KDR is a very different kettle of fish, no geo or political uncertainities, massive future demand coming far quicker than many analysts realise, world class, potentially low cost resource with further down stream processing, etc etc.
Nothing under $3.50 would get the job done with KDR, IMO.
JMO
Rayda
