casey, if NOT knows or believes there is a third party involved or waiting on the side line the last thing NOT may want is to show their true value(bottom line) which in reality is the highest price they can get their share price too, with all information about resources, partnerships and studies on the table. So for example if NOT was to share everything maybe our share price would be, for the fun of it, $8. Based on the offer FWR would be around the $2 mark. Now let's say part of our disclosure is that Xtrata will buy in at $10 once NOT has consolidated two or more plays. This would allow another major say Cliffs with the backing of Vale to make a better and more strategic take over challenge.

I am not saying this is the scenario, just saying unless you are the one calling the shots it is impossible to know why anything is being done.

I believe the most important thing to look at, and I just keep scratching my head over this, when NOT seems to be struggling so hard just to get back to our all time high, why have the Institutional owners bought into this play while the retail % of shares continue to fall? If this is as some would have us believe a lack lustre company why would the big investors want to increase their ownership of it?