IMO Villar will NOT take TVI private...It would serve no purpose other than perhaps ownership of 100% of TVIRD.
I believe Villar wants TVI in order to raise funds for all the upcoming projects and to be able to monitize his 75+ % of TVIRD.The IPO process for TVIRD will take too long ( min 3 to 4 years)
TVI does not any funds to conduct NCIB unless Villar finances this totally.Again to just reduce o/s shares will not benefit Villar greatly.
The only logical move will be reverse split and then TVI could purchase TVIRD with an all share deal.
Once all TVIRD assets are in TVI ( and perhaps also St.Augustine ) TVI will be a major player in the Philipines mining sector.
I still cant understand why anyone would sell for .015 now, unless other circumstances are involved.