Dear Xstrata,

My goodness I am having a hard time trying to keep count of all the circling wolves.

Welcome to the party. I noticed that you have quite the cozy relationship with TD and Macquarie. Yesterday, I noticed Blackmont bring the price down to it's low level at the end of the day yesterday. So many better times to sell were available during the day, but your buddies at Blackmont wanted to dishearten and ensure dinner would not go down well. Well done at the last few minutes. Before I forget, I remember that Macquarie acquired blackmont in 2009.

I notice TD doing a great job keeping the price at the desired 1.18 level. Xstrata, I don't blame you for continuing to use TD. They did a great job for you with the Falconbridge acquisition. I noticed you also used TD services coupled with Macquarie for the Lionore deal. I mean if they've been doing such a stellar job as your advisers you might as well keep using them.

I noticed just how many cash you have. No need to raise some quick September money for you. Good for you for being so rich.

P.S. make sure you put aside LOTS of cash. You'll need it.

Cheers,

Babjak1