No way would Rox get a TO bid before Paddy's Lode is much better defined in terms of its likely resource estimate just as RMS waited for Spectrum to produce its MRE. I'm pleased that RMS is trying to TO Musgrave, it might take the heat off Rox. Not sure MGV is such a good addition with its high strip ratio and small open pits but time will tell. RMS are offering $180m in script, plus $21m in cash so $210m and they may have to increase that offer. If Paddy's Lode and/or Midway prove to be a good as the company has been saying Rox will be worth much more than Musgrave imo.
Ann: Rox Shareholders Overwhelmingly Approve Youanmi Transaction, page-13
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