Firstly, congratulations on the good news over at AJM. Pity that offtake didn’t land over here, but hey, that’s the way it goes.
Secondly, I follow the TAW threads fairly closely and I can’t help but notice a negative tone in your posts with regards to the merger. It seems that you feel TAW shareholders have been slighted by the terms of the merger and are getting the raw end of the deal. I don’t disagree with your view that AMAL shareholders have got a slightly better deal than TAW shareholders, but sometimes you have to give a little extra in order to get the deal over the line. The term “merger of equals” shouldn’t be taken literally by the market, one of the parties of the merger always brings a little more to the table than the other, that’s just the way it goes.
My view is that any growth by TAW would have been impaired by the Bald Hill JV. IMO exisiting TAW shareholders will be much better off in the long-term as shareholders of the merged entity than what we would’ve been had TAW continued to operate Bald Hill as a JV and pursued the exploration of Cowan alone.
The terms of the merger have been set and there is a very high probability of the merger proceeding under the current terms. It’s time we move forward. I for one am looking forward to the merger being behind us so that we can concentrate our time and effort on the operational side of the business.
TAW Price at posting:
27.5¢ Sentiment: None Disclosure: Held
