RE: We can say it is a fact that.... tony:
OLE has a poison pill provision (Shareholders Rights Plan)...implemented June 2008...you can go to Oromins website and find in in News Releases for 2008
I've never been one to think TGZ is capable of acquiring OLE...mostly because they can't afford it...
They had an operating loss of $16M last year (actually their Dec '11 fin st was for 15 months)...had only $7M in cash...had $24M out on a $27M finance facility for the mill expansion...a $29M Net Loss Change in Working Capital..only 1.64M oz proven; 2.1 measured/ind; & 1.5 inferred
To do so, they would need a big backer...their share structure is very top heavy,,..top 2 own 50%; top 5 own 75%+
Not that TGZ is in any trouble...its just that they don't have what it takes - on their own - to do anything like this now... I think they are more concerned with their own planned $40M drill program...
imho
h1