an interesting snipet from the fin review, page-4

Hi Ashwil

You would have to think EXM would certainly be on many radars.

I have always considered that there are 3 possible scenarios/ outcomes for EXM

1. Gold Producer
2. Takeover
3. Failure

Obviously if i thought the third outcome was likely i wouldnt still be here....lol

As for option number 2, at times i am unsure whether the company fully intends to move to production or if it is being advanced to a stage where it becomes a compelling takeover target.
I am willing to take on face value the stated intention to transition to production, either way we will all make substantial profits imo
Often projects like Tennant Creek will not be considered a suitable candidate by predators until the project has been significantly derisked. Large suitors with matching cheque books would often rather pay more for less risk at a later stage and have the explorer do the hard yards in the meantime.
EXM needs to have the finance in place to advance the project in order to reach a decision to mine (having at that stage significantly eliminated most risk) or become an attractive takeover target for a large gold player imo