The company is now controlled by APAC (shareholder wise and board). APAC controls Tanami Gold (shareholder wise and board). Tanami is in JV with NST to develop the Tanami Gold Mine. I reckon APAC wants to know if there is high grade at Buccaneer that can be mined and processed at the JV mill with the lower grades going to a heap leach. I believe it is their goal is to drive the PRX price down, do a deeply discounted rights offering (underwritten by APAC) and gain further control at a massive discount. Then put it together with Tanami and the JV. There are only two winners in this scenario 1.) APAC and 2.) the puppet directors (who I am predicting will raise their fees soon).
Add to My Watchlist
What is My Watchlist?
