Buyout If Rockstar is correct about a takeover bid, he heard this info. from someone at TRR not the bidders side, which means this may be a friendly deal that will be more difficult to fend off than a hostile bid.
This is an opportunisic time for a bidder to come along with the price of all juniors down 50 to 70 from their highs just 1 year ago. If there was a time for a bidder to get the best deal it is now and I hope TRR recognizes this and doesn't cave in to the first offer to come along despite market conditions.
The recent downgrades for TRR were mostly related to using a lower gold valuation (eg $50 per resource ounce) than anything to do with TRR's properties..all told we're at 8+ million ounces for all properties (cote lake 6.9, chester 0.5, augen 1+) and there's about 70 holes or so not included in the resource calculation. TRR is easily over 10 million at the end of the day in a great location and jurisdiction.
TRR should not delay its drill results and longer and quickly get the PEA out to add value. If an opportunistic bid is in the offing, it might put TRR in play with several other interested parties coming along. Lets hope they do not sell out too cheap; the share price will start to go back up shortly anyhow as the juniors are way oversold. TRR has a great proerty and lots of land. A bidder should pay for this and not take advantage of market conditions that are worse than 2008 for the juniors.