yowie013, I don't think I'm a hyper-bull / cheerleader type at all to be honest. I doubt that if a T/O does occur, we will see a price in the 70's or higher, I don't think that's realistic. And because a project has a NPV of $4Bn does not mean the company is worth $4Bn, I know this. I've always been aware of the fact that the company may need to look at a T/O if the Chinese have pulled away from JV negotiations. I've always stated that I'm sure GJ & the board will do what they think is best for the company in the circumstances they find themselves in, whatever those circumstances are. I'm fine with whatever decision they make because they are in the best position to make that decision.
If a T/O is being seriously considered, it's because there are problems with the JV deals. But, as you said, nothing has been substantiated as yet. I'm still holding out hope for a JV, but the drums seem to be beating more towards the tune of a T/O being successful. Much has occured in the past 4 weeks, so I'm not sure that relying on the quartely update to glean information and take it as gospel is extemely wise. I'm betting the situation is currently very fluid, with things changing quickly, so deciding what information to put in the quarterly would have been tricky. As per the last few weeks, it's still a wait and see proposition. One thing I think for sure though, is that selling out at 48c will prove to be a cheap price.
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