Medusa take over?Teo & Co have zero interest in shareholders or...

Medusa take over?

Teo & Co have zero interest in shareholders or the company sp.
As a result of company performance and indifference the sp has fallen by 50% this year in a gold bull market with an industry low PE of 1.

There has been no effort over years to promote the company, currently no effort to develop the company or to monetize the gold held in TSF#1 and with spare capacity running at 40% or higher at the processing facility.

The gold contained in tailings pond #1 has been measured to be 28.2k oz at 1.7 gm/t valued at $45 million at the current gold price of $1600 less recovery costs.
This would pay a very nice bonus to shareholders as well as initiate dividend payments from a net cash position of around $27 million. But the company never prioritizes this to get this done.

There is a window of opportunity for a Hong Kong or Chinese entity to make a low ball bid before gold goes much higher. Probably pitched around 90c per share and valuing the company around A$190 million (US$120 million). There was an early stage attempt at this before but came to nothing.

In such a scenario Teo and the top management would be likely to go as they well deserve and the ASX listing cancelled.