OB MLX have to offer something better or they will not own those...

OB

MLX have to offer something better or they will not own those assets.

Companies undertake due diligence on lots of companies/assets without this leading to anything. It is just part of the cost of doing business and is an offset against income when it comes to doing their taxes.

MLX should have had a clause in the agreement for TAM not to solicit other bids or provide other parties with info, but I do not know if they did. In any case I think NST would have a pretty good idea of what these assets contain, and would not have needed to access TAM's data base. The reserves and resources are public knowledge as are the insitu physical assets.

I think MLX should put in basically the same bid as NST, but raise the amount offered for the remaining 25% of the property from $32m to $37, so that there is an additional 10% being offered to TAM and force NST to bid even higher. However, I do not want MLX to just buy the asset for the sake of outbiding NST - it has got to have plenty of value for MLX or MLX should wake away.

MLX has plenty on its plate over the next 12 months and there is no point in getting bogged down over the TAM asset.

I think 2015 will be the year of M&A activity in the gold mining sector.

loki