Looks like a few stops were hit today.
They will have there first shipment of ore on the water shortly, that should help to stabilize the share price.
Could be good time to top up.
TERRITORY Resources is expected to come out of a trading halt today after detailing its purchase of an African manganese mine - in the process letting the market provide a first verdict on its bid for Consolidated Minerals.
Territory shares have been suspended since Wednesday at $1.485 pending the announcement on the manganese mine in Burkina Faso.
That development has since been overshadowed by news that Territory chairman Michael Kiernan would lead a rival bid for Perth-based carbon-steel miner ConsMin to that of a Pallinghurst Resources-led consortium.
However, the offer was in disarray on Friday when the ConsMin board denied Territory access to its accounts and legal documents. Territory had put an indicative proposal to the market of $1.50 cash and 1.5 Territory shares for every ConsMin share owned. The suspended Territory stock made it difficult to value the bid with Macquarie Equities suggesting it fell well short of the recently improved Pallinghurst offer.
However, Mr Kiernan said yesterday he was prepared to vary the terms and called on shareholders to force the ConsMin board to let the Territory-backed offer into the sales process.
TFE
territory iron limited
