So What Will Move This Price?, page-108

Agreed,
I also thought we applied in August, but in re-reading the announcement we were "preparing" the application and from what I understand now the application cannot be completed until the feasability study is complete, estimated end of June or hopefully before.

I also agree that any takeover will not be done at depressed prices. If the feasability study comes out looking good, we will get a price spike and then a takeover will be at a premium to that I guess, but still don't think we will have a 10c party. I did ask Adam what he would be happy with in a takeover price but he wouldn't comment on that for obvious reasons and I brought up the idea of 10c on the basis of our more recent valuation of 3-4c plus a positive feasability study etc but he did not seem particularly in agreement with my reasoning giving some explanation of how the recent valuation had come about.
If the feasability for some unknown reason is not positive then these recent depressed prices will be looking positive, and unlikely to have a takeover.

I still think we have a good future and the feasability study will be positive, just feeling depressed and a bit disillusioned because I thought we had advanced further and the horizon just seems to be drifting further away.