Positioning for Takeover or JV bid?, page-59

The resource is good, low grade, bulk tonnage, which is ok for a high gold price environment.

Price is often beaten down prior to a capital raising, or a takeover, or JV announcement, so let's see what happens here. Otherwise it could be sentiment.

They should continue to prove up the measured category.

I'm sniffing a takeover or JV in the offing, but who knows.

What happened with EAR was they drove the price down from 35c to 13c to have a capital raising at 13c, and in that raising, they gave most of the shares to the company that wanted to take them over. A classic maneuver, should be illegal, but it's not. Then they did the takeover for 33c, still undervalued, but enough to satisfy the regulators.

Gw