SD wanted the SP low as they get to increase their position at bargain basement price to recoup some of their initial caught with your pants down entry
LM3 are the reason why its so low, and until they are cleared out, will be the reason why we wont hold any gains
The only thing we have in our favour is PMs going up
The grade of the latest resource estimate at 1.3g/t is pretty low.. id prefer to see it at 1.5 or higher
TGM have openly stated now that if they did get their takeover up.. they would be diluting to fund things.. so their whole thesis to attract takers was pathetic to begin with.
Theres a lot of work to be done to get LM3 off the registry
Ann: TGM: Second Supplementary Bidders Statement FML T/O Offer, page-9
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