RE:No cash, so how?@ dmtc, one possabillity ( strictly guessing here) is the Magpie takeover play by KWG was used as leverage to get FNC to agree ( or atleast listen to) amalgamate FNC&KWG into one pretty package for a major ( who has already been consulted) to swallow everything. This gives said major an attrative asset in Magpie that is pretty much unincumbered because the amalgamation settles the FNC & Special share Magpie dispute. The Magpie deposit gives the newly formed amalgamated company a bit of leverage to extract as much value as possible out of the high risk ( never settled FN issue) of the ring of fire. One more real long shot on this is that the major is BHP who would realy like another arm wrestling rematch with Wyloo over Eagles Nest .( just letting my imagination run a little wild with that last bit)