come Friday when TMR fail to achieve 90% plus acceptances there...

come Friday when TMR fail to achieve 90% plus acceptances there will be a rush to the exit because this is what you will get:-

1) TMR without 90% of IBR, will be unable to de-list IBR

2) there will be no merger - just a majority owner - obliged to comply with the Corporations law

3) TMR will have approx. 950m shares on issue, (yes you read this right - almost 1 billion shares on issue)

4) TMR will have almost no cash on hand [ only had 1m$ left at end of last quarter - 2 mths ago ],

5) TMR with bugger all cash flow [negative cash flow of 7m$ last quarter]

6) falling world copper prices, rising world copper inventory levels

7) TMR is unable to take IBR's $9m cash on hand

8) TMR have committed $3.5m to purchase Charters Towers gold plant, (without the money to pay for it)

9) unable to direct IBR funds to TMR without miniority shareholder approval.

Get the picture, this does not look good for TMR shareholders - what will TMR do - a capital raising - perhaps but that would push the shares on issue above 1 billion - ouch ouch ouch - I wouldn't want to be a part of that.

Come Friday I predict there will be a RUSH TO EXIT by TMR shareholders

Is TMR on it's way back to 10 cents?, well I think the chances of it going lower from here far out weigh the chances of it going higher.

Thankfully I do not hold TMR.