We all would like more than 14c that is for sure. However,...

We all would like more than 14c that is for sure. However, without the takeover on the table what would the SP be? Also got to keep in mind that MII need to raise money and in this market that would be tricky especially without a takeover offer keeping the SP up. Meridian gave a presentation to a resource conference on the Gold Coast in June and in that presentation the MD said that the Lennard Shelf Project required lead/zinc prices of US$1.40/lb to generate a $50M NPV. With lead and zinc prices hovering around US$1/lb it is going to a long time until lead and zinc prices are above US$1.40/lb for a sustained period. If lead and zinc prices were higher Meridian would have betetr leverage with the Chinese so lets all hope for a lead/zinc price rally!