Tectonic's "behind the scenes" and market activities over the...

Tectonic's "behind the scenes" and market activities over the last 3 months (post Steve's departure) are a complete mystery to most. It is clear that the new board and management have headed in a different direction to the former board and the company under Steve's management. Steve seemed to be moving in on offtake/forward sales and funding deals prior to December which were due to be finalised by now. However, since his departure we find out that offtake and debt funding discusions are only just expected to move forward this quarter!

One reason Steve and Andy may have moved on so passively after being such key management over the formative stages of the Phillips River Project is that they perhaps knew the writing was on the wall that TTR are going to be "taken out" before the Phillips River reaches the Development and Production Phases (and there would be no role for them).

I am sure GZ is probably right about IGO's position with its holding of TTR shares. However, recent on market activities and placements surely have weakened the influence of some key loyal long term holders. At one stage the top 20 (mostly long term supporters) would have held over 40%. The website has been updated many times over recent months (including no of shares on issue) but the top 20 has not been updated since August 2010 - what are they hiding?

I suspect you may be right Billmac with where the recent placements have been positioned. What better way to sweeten the target (and opportunity for accumulation on market) than opportunistically discount the placement prices. That tactic surely held the share price down and disenchanted some holders.

The flurry of buying that sent the SP up to 13 cents soon after Steve and Andy's departure (with golden handshakes) seemed to indicate something outside "normal" market forces was at play. The recent pull back seemed to have been triggered buy true market forces (commodity weakness, stonger A$ and Japan) and the discounted placement price. It could be anticipated if there are outside influences at play they will start to move in strongly again at some stage soon to further strengthen their position for aquisition.

I am not in posession of any information that supports these thoughts. If I am wrong though we won't see any strong buying near term.