Taurus will be working behind the scenes to drum up some sort of...

Taurus will be working behind the scenes to drum up some sort of takeover that gets them out at a profit.

If they buy up to the 19.9% limit they have to make a takeover offer if they want more, unless they wait for 6 months before buying more (there is some sort of creeping provision in the Corporations Act where they could buy another 5% each six months thereafter (I think) without making a t/o offer.

This averaging down strategy is not without its own risks. If the POG swoons down to around $1400/ounce that will trigger a heap of selling which they will not be able to soak up in the short term.

Obviously AMX is a trade gone wrong for Taurus, and the sooner they exit AMX the happier they will feel. Others will know they are under pressure and feel no hurry to make a substantial bid unless the POG picks up or they find a lot more oxide ore, which means more $$$$s to be sunk into AMX by shareholders who contribute.

Given the way goldies are heading I am only willing to commit some funds here at under 30 cents. There will be plenty of cheapies to pick up in June-August, so why hurry now? Look what GRY's BFS has done for its share price - almost nothing.

loki