Ann: Trading Halt, page-34

At this point in time I couldn't imagine any thoughts of a takeover, because there is still much work to ascertain whether the Bluebird mineralisation extends to Perseverance or elsewhere.
If there was to be a takeover later on Kal Mine Mgt is in the box seat, holding 19.26% of shares plus 13.2% of listed options.

Whilst I'm personally very bullish on the project (and probably will be more so once they come off this TH) I'd like to see more drilling and results about the historic mine at Perseverance - where there maybe shallow mineralisation that can assist with the economics of developing the deeper Bluebird resource.

Whilst TMS still has a couple million dollars I'd imagine the main focus of management will be future funding requirements for exploration drilling.