A resource shell

Looking for opportunities for almost 12 months now... however, going through their quarterlies I have spotted a difference in the last quarterly...don't know if it means anything but gives me a feeling that acquisition might be sooner than later...

From the quarterly announced on 30 October 15:

Tychean continues to investigate new project opportunities and is reviewing its Valley Floor Project with a view to seeking, amongst other things, a farm in venturer

From the quarterly announced on 29 January 16:

Tychean continues to investigate new project opportunities and is reviewing its Valley Floor Project with a view to seeking, amongst other things, a Joint Venture partner to further exploration activities in the area

Now this is the interesting one... From the quarterly announced on 29 April 16:

Tychean continues to conduct detailed due diligence on new project opportunities.

IMO you can only conduct detailed DD when you have short listed the projects... or Am I reading too much between the lines?
On another note, MOX and MXR have acquired projects pretty quickly however TYK has been looking for almost 12 months... so one would assume that the new project might be closer than we think?
Also, TYK has been cash poor during these months... however, this is the first time they have decent cash... thanks to MXR shares... But we don't know the exact position as yet... what has been announced is the sale of 40m shares at 0.5c bringing in 200k cash... TYK after selling 40m shares in MXR ceased to be a sub holder hence was not obliged to notify the market if more shares were sold... so if they were sold, they TYK might have 500k plus cash... and if they are not sold, they are worth 240k as per today... again bringing cash and liquid assets close to 500k... This might have TYK in a position to negotiate the deal better...

Market cap is fairly small IMO so a decent project in resource sector might bring heaps of value...

Lets see how we go...

Cheers