Hang in KK, you may not be aware that APAC Resources is currently in the process of raising HK$447 or A$85M and I think there is a very good probability they will bid for the 60% of TAM they do not already own. I also don't think they would have a chance of getting it for less than 9-10c a share given the NTA is perhaps as high as 12c before to any resource upgrade.
Also keep in mind that NST has announced that it will be updating its overall resources in June and this should include an upgrade to CTP numbers given the deep extensional drilling they have carried out over the past couple of years on Groundrush, Hurricane-Repulse and Jim's...This could be significant so perhaps there is an incentive to bid prior to this release i.e. within the next 4-8 weeks?
Hang in there and be aware that any acquirer would probably like TAM's the SP to be as low as possible before moving....I have noticed some subtle selling coming in over the past few days dropping the SP over 10%.
TAM Price at posting:
4.1¢ Sentiment: Buy Disclosure: Held
