Ann: Central Tanami Project, page-112

Kerfuffle or not, a bit of a battle in court will take some time and MLX will not have to come up with the money till it is sorted out. Meanwhile....getting on with the knitting at Meekatharra, Kalgoorlie, Rover, etc. and getting more cash in the bank.

The price on TAM asset is contracted so that if the price of gold goes up to some extent, which it could well do soon, a bouncy channel bottom pattern forming in the gold price for some time now, the entry price is relatively fixed. Cost fixed, value increased.

There is still then time to mount a whole or partial takeover of TAM which could be cheaper. TAM shareholders would be more likely to benefit directly from this in terms of profitable share sale, while the previous story was the wreck of the Hesperus when TAM ran out of money and without obvious lines of credit to get the project up. They have sunk a fair bit into this holding already and might like to get their dough back. Not so long ago that looked a bit of a forlorn hope.