anyone game to comment on the 1.5m bid...?, page-14

Something I neglected to mention in my earlier post...

Another point to consider here is the impact the early cash flow from the Polymetals JV will have on the compnies need for future cash...and by extension, dilution and obvious impact on the potential share price.

Larger players like to hold off any purchases as long as possible, for all kinds of reasons...one of the most important of which, is the obvious benefits to them of a low share price when the time comes for a placement.

There is a good chance now that the profits from the Polymetals JV will not only drastically reduced the need for future placements, but perhaps more importantly, dramatically reduced the size thereof and subsequent benefits to those "waiting in the wings" to facilitate the company on this issue. The free cash flow will also strengthen the possibility of a higher debt-funding ratio than might otherwise have been planned.

The upshot here is that some of the "players" may have realised that waiting may no longer result in such an attractive entry point?

Cheers!