The M&A talk with MON is off. The SP touched a new low at 13.5c this morning. Without the "Gold & copper mineralisation discovered at Tekapo" announcement, TAM might even drop lower than 13.5c.
MON has taken a placement of 12.5m shares at 20c when they started the discussion of merger on 31 October 2006. A paper loss of 5c per share (TAM @ 15c) so far or $0.625 m for the 12.5 m shares paid for at 20c. It is like an open-book small fee to examine TAM's assets. TAM will also having an auction of the 81 m confiscated contributing shares at 10 am at Perth stock exchange on 7 December 2006 (this Thursday).
What will MON do with its holding of 12.5m shares of TAM? sell or keep it?
Cheers,
BL
TAM Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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