RE:RE:RE:Bidding Wars Episode 1.0I agree. We are now officially in play! We now have a real producer bidding for TME and the synergies they will gain are pretty good. they will also be getting a great high grade deposit near the surface. Like you said, this is hopefully only round one in the bidding. Gold corp might be interested in bidding but I suspect that the idea being floated that they will be more interested in buying LSG once they own TME is more likely.
Not withstanding the above, the offer is still much lower than the value of TME deserves, So I suspect the bidding is not yet over as there is still lots of value to be scooped up by the high bidder for TME. But this is clearly much better than the Oban stink bid!
should Oban come back with a bid, if they just match the LSG bid I would definitely go with LSG (or neither as they are still too low). But surely LSG would still be the superior bid as Oban would be a junior explorer still looking for hundreds of millions of dollars to start project development years down the road with all the dilution and risk that would entail while LSG is a actual gold producer and already there! so if Oban even has a shot they would have to be much higher than Oban - either cash plus more shares or much more shares than LSG. I suspect the Oban deal is in danger of colapsing if they fail to get TME.
the next week or two will be interesting!
Glta
Stockman6767