"Wes, based on the recent NR of Sept.9, 2010 when I do the math and add 540million plus 250 million and divide by roughly 187 million I get over $4.00 per share. This is just Eagles Nest. Am I right in this figure? Wes replied to me, "Yes, that sounds about right." This was back in Sept. 2010."
Now being that I believe one should be able to hold the possibility of a multiple of outcomes in a given situation, so as to be prepared for alternate courses of action, I'll respond with what I could imagine Wes saying when shareholders ask him what happened to the $4 plus he though we were worth.... and he'd say: "the present economic times and current valuations of companies don't support that high a price and the shareholders ultimately decided the fate of NOT". In fact, he could well be correct in making a statement as above should we be taken for substantially less. Now I've said in the past that I suspect that I believe that the BOD will go for as much as they can get but the reality is that there are variables they cannot control such as the vote. In the end there may be no worries as we may have a shareholder base that also wants maximum buck along with Baosteel who may in fact not be willing to sell at any price..... and one could imagine that they have taken steps to ensure that a sell will not happen..... unless....it's to them. But would we also assume that Baosteel will want to pay us more than they have to or anything we'd consider fair. I wouldn't make that assumption. They already have about 10% at .86? Frankly I was never impressed with that either. In the end.....we wait to see.
