Ann: Takeover Offer for World Titanium Resources Limited, page-12

Well now we know who the fund is - African Minerals Exploration and Development.....I wonder if they have any links to the top shareholders (nice to see that they formed part of the blocking stake).....  I like their investment ethos (this is not an extensive list):

• Assets that are well positioned to move along the exploration and development value curve;
  the Fund typically considers investing in assets at any point prior to a Pre-Feasibility Study (PFS)
• Minerals that have a large market and an extensive array of applications, analysing
  the medium to long-term balance of demand and supply and the number of competing
  exploration projects, rather than opportunistically riding commodity prices
• Projects with the potential to become world-class deposits which are attractive to
  major mining companies and are positioned in the lower quartile in terms of future
  mining operating costs
• Capital is invested with a phased approach, linking new tranches to detailed
  exploration milestones that limit the risk profile of the Fund

WTR ticks these boxes, not to mention the ESIA is due in the first quarter which further de-risks this project.  It will be interesting to see the path forward once the ESIA is approved (assuming that the ESIA is approved).  IMHO the next few months are pivotal in the development priority of this project........