Hello Malleeroot,The Victorian gold sector has been lacklustre...

Hello Malleeroot,

The Victorian gold sector has been lacklustre for a while and even though this is a QLD based tragedy it impacts the sector I have spent a bit of time following for the last few years. To answer your question, I would imagine that funds (probably not much) would be found somehow to buy the minority share of Tandarra. A few things I note though,

1) I am sure CYL would have rather not had to do it right now given the other matters on their plate which require more intense focus and attention (not to mention capital). Under this structure the minority stake was going nowhere in a hurry, and

2) the reason I say it will not require much to settle is becasue of the very nature of the deal. Not many people would be lining up to purchase a non-controling stake with these guys as the manager. Perhaps someone with a mill (there are only a few in Victoria) as I could not imagine an explorer going to market for a placement to fund the purchase. Past experience for myself is that the Administrators will do a cash deal pronto on an asset like this to ensure they keep getting paid.

Summary - Not much natural demand but a desire to sell...... I know where that is heading.

Please give me leeway here and i am not intending this to be something which starts banter from others, but merely making a call for the record. I think it will go for something in the range of $3M +/-

Regards
DC