There are two main reasons why I don't think a takeover is...

There are two main reasons why I don't think a takeover is likely.

1. The management team have been in this project from the start and I believe they will want to see it through to the end, and they hold a fairly substantial percentage of CNT so I think they'll be against any TO bid.

2. Their gold site is in Egypt and the management are Egyptian. They finally have a very good working relationship with the Egyptian government and any takeover would mean the new owners, probably being non-Egyptian, having to deal with the Egyptiam government.

There are also the new Egyptian mining laws which are imminent and CNT management have, I believe, been in close contact with the Egyptian government while these laws have been formulated.