I have been thinking about that question as well. Surely if the company was up for sale than an offer would have come in by now? The grades and size of the deposit have now been known for a while. So the question has to be asked why has no one put in a bid?
If no one was to bid are we now looking at a scenario similiar to pdn or fmg? The reason I mention those two are they are now well off their all time highs. I know their are other factors, but in part their lower share price is due to capital raisings and costs in bringing the mines into production.
So in EXT's case, If they are going to go to production than funds will need to be raised. I think in reality the high in the share price may have been reached for the short to medium term.
Anywho's will be interesting to see, like you I am in for the long haul.
EXT Price at posting:
$7.82 Sentiment: None Disclosure: Held
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