Ann: EVN: Intention to make takeover bid for Phoenix Gold, page-9

This morning's announcement with a change in holding reflects what I have been saying all along.

Now that Geologic have terminated their pre-bid arrangement - EVN would be getting their ducks in a row for a counter offer from Zijin.

There was word in the press yesterday on miningnews.net that Zijin are firm on their offer and that they would not put in another offer - but i personally think thats just tounge and cheek.

With gold stabilising in AUD terms around the $1600 mark, it will be interesting to see who wins out in the end - my money is on EVN.

The question is, at what price?