I emailed the company a month ago, they said grade control...

I emailed the company a month ago, they said grade control drills were on site drilling at ACAP & Tycho pits and that a consultancy company was taking over further evaluation of resources/ exploration results and will make recommendations on targeting what might have been missed over the years and prioritising exploration dollars since the departure of primary’s exploration director.

I received that information from them on the 5th of February and then the take over offer came out.

I’ve also been told that a substantial holder has sold down a % of their position and had since bought back before the 5th of February.

The whole situation is very strange from a take over perspective as the share price should be trading at 0.057 cents or a lot closer to that value for thin take over to occur.

I believe something bigger is behind what’s going on with the share price from looking at the market depth and the constant stream of sellers keeping it down.

The terms of the takeover offer for it not going through are very farftched, gold won’t be falling below $1,500 Aud per ounce nor will the index they mention fall by 10 %.

I will be waiting for the target statement in the mail and reassessing, but will most likely take the offer.