HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Message: The Bridge to Far OR Waterloo Time to descide.
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So correct me if I don't understand this right but it seems the retail shareholders hold the hammer on this offer if Wyloo doesn't support.

BHP requires 51% of shares excluding what they already have. That leaves 436,729,694, half of that is 218,364,847 required (plus 1%)

458,268,304 Shares Total

Wyloo at 37.4% (171,392,346)

the board at 9.9% (45,368,562)

Baosteel at 9% (41,244,147)

Retail 43.7% (200,263,249) ???

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218,364,847 required (plus 1%)

- 45,368,562 the board

- 41,244,147 Baosteel

= 131,752,138 needed assuming Baosteel was onside with the offer

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So they require 65.8% of retail to accept the offer without Wyloo onside. Are there other big holders within the retail % like institutions etc. I am not aware of?  

 

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