i get your point and I do think the current MC is 'chump change'...

i get your point and I do think the current MC is 'chump change' for many majors.

fact is though, the MC has been alot lower for the past year when the sp was sitting around 10c-14c and we all knew Tindalo was a goes back then also as they had already drilled the exploration well. only thing that has changed since then is the sp is a bit higher and we are now producing from Tinadalo, albeit with a slight issues with soime equipment that will be fixed in the next day or 2.

if a major wanted in they would have and could have done it over a year ago when the sp was much lower (50% lower) but they dont want to do a t/o at this stage if you ask me.

my point around directors buying is that if they thought there was a chance of a mjor wanting to do a friendly t/o they would be buying more now BEFORE any such bid was made.

i just dont see a t/o happening this year sorry