TOObviously IAM would prefer to pay 10 cents on the dollar for reserves that are proven-but once reserves are proven they won't be selling for a 90% discount. Its a balancing act for the acquiring company-if they move too quick they take a lot of risk on. If they move too late the price is much higher, perhaps too high. I believe that the TO will come earlier than most expect because of the nature of the deposit. The strike zones are huge-monsterous potentially. if the grades are consistent this could be one of the most significant discoveries in Africa-indeed anywhere-in years. At this time I believe most MXI shareholders would take a 1 for 10 swap into IAM. The mag surveys don't prove anything conclusively but they do confirm gigantic potential. I believe that its this blue-sky potential that will entice a suitor to move quicker than they might otherwise. I also believe that management will resist any TO right now, but they don't hold enough paper collectively to nix a deal. Small shareholders and institutions are so battle scarred this year that they will jump at a chance to book a win. I think that IMG is lining up its cards to grab MXI before Greg and his team have an opportunity to prove their theories about the property. I further predict that, if they are sucessful, the purchase of MXI at this time will rank right up there with buying Long Island for 24 dollars.