Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-17

It is amazing that Zhaojin have chosen not to bump the offer up to at least 80c if they were serious about buying the company.
Hanging around with a low-ball bid while the mine ramps up does make them appear rather stupid.
Furthermore, the market price has consistently exceeded the offer price.
Message to Zhaojin: your offer is inadequate!
Another question begging for an answer is: why haven't management beat the bushes to find a counter-bidder.
If we hope to get a full price for this investment, then we need a bidding war - thus a second buyer with serious intent.
The Board and Management have a duty to go find one.
I think an announcement to the effect that they are appointing a professional corporate advisor with a mandate along these lines would further bolster market interest and the share price.
The stock still looks cheap as chips.
GLTA.
DDD