RE:RE:RE:RE:RE:RE:RE:RE:Finally!Clarke, you are correct, RIO could force the issue so to speak and "put WRN in play". That being said, the only party that controls when a buyout offer is voted upon is the BoD. Corporate actions are controlled by the BoD, not suitors or the shareholders.
There's an old saying down South (in reference to those who do not like their current situations and want to leave, etc.) that goes along the lines of "Delta's ready when you are". To paraphrase in our situation, it would be "The BoD is ready to play ball when RIO is (ready to hit that magic buyout number)".
If RIO wants to pay fair value, the BoD will put it to a vote. Until that time, we wait. I look at it this way, WRN isn't depleting their resource base daily, whereas RIO is. Granted, WRN is covering some overhead (G&A costs) year by year, but our in situ resources are not depleting. Quite the opposite, they continue to become more and more valuable the longer they sit in the ground.
Time is on our side, it always has been. Paul said it best, the lowest price RIO would ever get for an offer (that would be put to a vote) was two years ago. Given the pace of inflation, add about 20% to the price today.
Sure, suitors can chase less lucrative juniors who are in a tenuous cash position and try to pick them off for pennies on the dollar, but if they want one of the top five gold projects not held by a major globally, they come to us and meet our price.