RE: news release The last news release was just over one month ago. That isn't a very long time.
They are in the middle of a strategic review process. They say that they have a number of options and they are going to decide which one is best for their shareholders.
I think that there is a very good chance that there will be a joint venture with a company from some neighbouring claims. The reason that I think that is that it will triple the value of Lumina and it has nothing to lose by doing that (in fact there are a number of advantages in doing that). It will probably be another couple of months before the decision is made.
It is unlikely that there will be a takeover before that joint venture happens and if it does the joint venture will still happen anyway.
There is next to no chance that BHP will takeover Lumina and I think it was a waste of time approaching them. Although it did make for an interesting news release and maybe that is why they did it. Methinks that BHP would be more interested in expanding its copper production at its Olympic Dam mine in Australia than it would be to acquire Taca Taca.
Whatever happens, Lumina shareholders are in a win-win situation. They can't lose unless they sell too early.