Takeover Bid Close???

If APAC Resources really have the intention to bid for the balance of TAM they could well do it within weeks. I think they would be very aware that planned "resource definition" drilling soon to commenc on the Groundrush and Jim's deposits is likely to expand both historic resources as well as provide the necessary prerequisite for a mining decision.

APAC is a big hitter having around $400m invested in MGX so investing a further $80-$100m to gain 100% of TAM certainly fits within their focused 'core asset' portfolio strategy. I also think they would be seeing the current weak AUS$ gold price as an opportunity to buy TAM's outstanding shares cheaply. I'm watching for a brief price sell down prior to bid.

Of course this can only be speculation but it certainly seems to fit my belief that APAC have been actively setting this up for a number of years. Unfortunately because APAC have direct access to all JV discussions and information, they will always hold a huge advantage over minority shareholders.

I can only conclude that if a takeover is launched in the weeks ahead, it will at least provide a reliable confirmation that all is going very well at Tanami.

DYOR