monday's age

I have been away but caught up with this article in Monday's Age by Barry Fitzgerald..Doesn't appear to be posted..nothing new but good coverage.

"Bass Metals
GARIMPEIRO last had a look at Mike Rosenstreich's (profitable) Tasmanian metal producer Bass Metals (BSM) as recently as September 29. It requires another look because things have been starting to fall the group's way in a hurry.Most notable was the sale by Intec (INL) of a 19.9 per cent stake in Bass to Metals Finance Corp (MFC) and a follow-up decision by Intec to put its idled Hellyer treatment mill up for sale.
Hellyer's replacement value would be upwards of $100 million, but the sale price will be a fraction of that. There are two obvious potential buyers, Bass and OZ Minerals.
But given the squeeze on OZ at present, you would have to think Bass has the inside running. An acquisition by Bass would again bring Bass' Que River mining operation, its proposed Hellyer mining project and the Hellyer mill under the one umbrella. They were all once under the umbrella of the long-departed Aberfoyle.
OZ's potential interest in buying the Hellyer mill stems from the fact that ore from Que River goes to OZ's Rosebery treatment plant and Oz is a joint venture partner of Bass in an exploration hunt for the next big polymetallic deposit in the region.
But it is the Bass ambition to follow on from a "starter" operation at Que River with a much bigger mining development, by a factor of four or five times, at the Hellyer deposit that makes it the most logical buyer of the Hellyer mill.
Apart from anything else, it won't take much of a move for Bass. It is already on the Hellyer mill site with its exploration office. It would simply be a case of moving the cafe bar and pie warmer up the hall.
Should Bass secure the Hellyer mill, it becomes a more interesting base metals play all round.
It last traded at 9.9¢ a share for a market capitalisation of about $10 million. That looks on the skinny side of things given that Bass is holding about $8 million in cash, $6 million in receivables (net of creditors) and $1.6 million in inventory. Garimpeiro makes that $15.6 million (15¢ a share)."