It's pretty obvious( to me at least) that a deal is coming. MD had been over there for a month. The Chairman then fly's over there to meet potential partners while MD is there, as per comments in annual report. House broker keeps soaking up any impatient sellers as per Fridays buying by Euroz/Hartleys. Whilst the exact timing is of course uncertain, we must be at the pointy end of imminent news. imo.....Deal is likely to be on favourable terms for shareholders. Management haven't waited this long for nothing. Given they have managed to hang on to 100% of the sweet spot in TMS, a similar model to Aurora could see them farm out 40-50% then be free carried for the lions share of expenditure to develop the field. These guys have the formula , they just needed the right timing to bring in a partner . When you read the annual report , you can see the stars are finally aligned. I reckon they will rerate immediately to the previous 12month high of 8-9c on deal news .
ATS Price at posting:
4.1¢ Sentiment: Buy Disclosure: Held
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