MTR Quarterly Activities Report - possible takeover of JV?

Another report out of the UK:

http://www.metaltigerplc.com/index....574-quarterly-activities-report-20160503T1453

Under the highlights:

"The JV partners have received various expressions of interest in the project and the findings to date, from various third parties.  We engage as appropriate, however at this point the main drive of the JV partners is to further accelerate drilling and build a dataset that helps us to fully understand the scale and potential of this project."​

The Strategic Partnering section also has some very interesting information. MTR announced staff and partner share options in March that were to be put to shareholders for approval in July 2016. MTR "consider it necessary to accelerate the shareholder approval" and will be calling an earlier General Meeting to approve options and to ensure that they vest immediately on acceptance of a takeover offer rather than the planned 12-month engagement period. Draw your own conclusions, but it looks like MTR may be getting their house in order to safeguard their own, major shareholders' and partners' options before a formal offer materialises for their 30% stake. Personally I can't see MOD wanting to give up their 70% share lightly or quickly:

"In addition readers may be aware that on 4^th March 2016 we announced the award of 10 million options to directors and 15 million options for Metal Tiger staff and partners.  These option awards were to be put before the next Annual General Meeting ("AGM") of the Company which is now likely to be held in July 2016.  We now consider it necessary to accelerate the shareholder approval at an earlier General Meeting, for reasons set out below.​

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Recent progress achieved in Botswana and Thailand has created a significant degree of interest in the Company which has been evidenced in part through a rising share price and significant market liquidity. The Board is aware that the success to date in Botswana has also drawn the interest of a number of parties in that project and in Metal Tiger and MOD Resources as JV partners. [my emphasis]​

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Although no formal takeover offers or similar proposals have been received or indicated for the project or Metal Tiger itself to date, the Board is aware that should an offer be made prior to the option award being approved by shareholders at the forthcoming AGM in just under three months time, then the option awards could be lost.  Moreover for the staff and partner awards there is a stipulation that staff and partners must remain engaged with Metal Tiger for 12 months post option award before they can exercise their options. Should a takeover offer for the Company be received in the near term, in reference to the 12-month engagement period, once again staff and partner options may be lost.  Given the commitment of our team to the Company and the significant efforts of all team members, this is a scenario we cannot allow to materialise. [my emphasis]​

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Therefore at the General Meeting to be called shortly we will be requesting approval of the options and, in the event that an acceptable takeover proposal is received for the Company, that all options vest immediately thus protecting our staff and partners and the gains that may be possible on their options in that scenario.  Again this will be further explained in the Notice of General Meeting.​

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For clarity we would confirm that no takeover offer or proposals thereto have been received by the Company to date.  Furthermore investors should appreciate that until any such offer is received and communicated to market there can be no assumption an offer will be made by any party."​