final tender documents vs final offer document

For those unfamiliar with a tender process (as I am), I thought I would ask the Company what the difference is between a Final Tender document and a Final Offer document.

Had a quick chat to Mike and it seems the submission of a Final Offer document is definitely a step closer to the finalisation of the tender process. It’s most definitely NOT just a repeat of the process that we went through early last year and is a clear indication the tender process is drawing to a conclusion.

So what’s the difference between submitting a Final Tender document and a Final Offer document?

The Final Tender documents are the initial stages of documentation where BMB outlined what we plan to do in Togo and how, and a Final Offer document is a very comprehensive document supplied by the Government of Togo that outlines the nature of what has been negotiated so far and the offer it expects to receive from the tender party. BMB now has to access this document and subject to minor modifications and changes as would be natural in this process, the Company will submit the Final Offer document for their review and thereafter a decision will be made in due course. This Offer is therefore a ‘formalisation’ of the process to date which is critical before the tender moves to final award.

I view this as yet another very positive step forward, and going by the large 500k and 300k share buy orders going through today, so does the large player(s) who are continuing to accumulate.