Colby's Response to STX Offer, page-261

I'm sure the advisors talked through this, they're smarter than me, but if the sticking point was Mongolia and some cash to keep the lights on for the new entity, I wonder why they didnt just manage the ratio down a little and add $6m cash to the deal. STX share holders slightly less diluted, TPD have some funding to continue Mongolia. STX need funding for future development but with $100m in the bank plus CF coming with Walyering, surely it wasn't that much of a deal breaker?

Agree that STX prob coming back to the table for one last tilt. TPD way too small for bigger fish to bother and they, like STX, won't want exposure to Mongolia. Not sure why some on here keep suggesting thay. IMO it's STX or we just go to production w Walyering