RE: RE: RE: RE: End of Takeover TalkLets be honest-this will not be a completely fair and open bidding process, Iam has a huge leg up on the other suitors.
But having said that, kudos to Greg for learning from his earlier experience at Jilbey. At Jilbey High River was dictating the pace of exploration and held all the cards. There was no practical alternative to them when it came time to talk TO.
This time another deep pocketed suitor could get MXI and its 50%. What is of monumental importance is that we have 50%, not 49% as is industry practice for the juniour partner. As to Iam's shareholding in MXI, if an outside suitor can reach a certain threshold with a takeover bid they can compel all shareholders to tender.
Iam and Anglo jointly operate the nearby Yatela mine that has about 1.5mm ounces in reserves. I figure that we will be close to that neighbourhood with the next resource calculation and completely blow it away in the coming months as they step out from the known deposit with RAB drilling.
An economic deposit with further upside in a stable political climate, and close to existing infrastructure. We won't last long once Greg gets the next act rolling, all IMHO. My dream scenario remains, we get Iam paper then as Iam holders we get NEM, or some equivalent, paper. Could be an eight banger from here. Holidays can wait-get the drills turning!!