somewhat shocked, page-6

this is a much harder market for a cash strapped junior than a constant producer.

AZH Need money. TRY have money.

TRY were/are in the position of power when it comes to this takeover.

TRY have had the best preservation of capital of any gold miner on the ASX. As soon as their SP gets punished for no reason, they double their equity. The correct play of TRY at the current situation wouldve been to buy back shares at this level. Let the juniors dilute and disintegrate into nothing then take them over.

Or they couldve built up a cash reserve and used cash to fund a take over.

A 90% increase in shares on issue, released when the share price was at its lowest since the GFC makes utterly no sense...

Unless Casposo cant get the reserve upgrades they initially expected.