Hi Mike
I agree that a statement to the market would be called for when there's "any change in financing arrangements" and I'm sure TAP we'll get it. I'm sure, therefore, that negotiations are still in progress. That being so, TAP (which now only has a small team) has to stay focussed on ensuring that the bankers don't unduly take advantage of the shareholders. These are not enjoyable negotiations, with so much money involved and "ambitious" bankers.
I have no idea whether we'll end up staying with the existing lot or go to Maquarie - but I wouldn't want TAP to be trying to meaningfully communicate status of ongoing discussions, potentially with multiple "ambitious" parties, and thereby potentially giving away commercial advantage by saying something that can be opportunistaclly seized on.
You did say recently that you were not one for standing still. In a grossly oversold resources market like this (and in business generally, when a lot of $ is involved) I've learned to be much more patient than my alpha male says I want to be. Good luck, mate!
TAP Price at posting:
21.5¢ Sentiment: Buy Disclosure: Held
