I figureTRR made an oportunistic offer for GLD based on the last 6 months of trading GLD is geting a crappy deal.... .066 is 15 to 1 exchange rate. I figure the big guys sold out GLD for the liquidity TRR will provide....JMHO

The same trading scenario can be said for PRB.... down on light volume, lack of liquidity in the context of stengthing value creation.... gold, chromite and royalty.

I figure that this has not gone unnoticed and we could come under attack from several companies.... LSG, Agneco Eagle, Cliffs or some other out of the blue. PRB has only $100 Million market cap and is swiming in a sea of predators flush with cash and stonger market fundementals.... JMHO

If the share price continues to stagnate I think one of the predatory fish is going to eat us like some fingerling which just popped out of an egg.

Note the last line I enclude in the NR. GLD has been under attack.... and the sutor TRR has been supported... the charts say it all!

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Trelawney to make takeover bid for Augen

2011-07-11 09:22 ET - News Release

Mr. Greg Gibson reports

TRELAWNEY ANNOUNCES INTENTION TO MAKE AN OFFER TO ACQUIRE AUGEN GOLD CORP.

Trelawney Mining and Exploration Inc. intends to make a share exchange takeover bid to acquire all of the outstanding common shares of Augen Gold Corp., not including common shares of Augen currently held by Trelawney, at an implied offer price of 32 cents per common share (based on the closing price of the common shares of Trelawney on the TSX Venture Exchange on July 8, 2011). Under the terms of the offer, Augen shareholders will be entitled to receive 0.066 common share of Trelawney for each common share of Augen held.

The implied offer price represents a premium of 40 per cent relative to the volume-weighted average price of Augen shares on the TSX-V over the last 20-trading-day period ended on July 8, 2011, the last trading day prior to Trelawney announcing its intention to make the offer.

A group of Augen shareholders consisting of Libra Advisors LLC, Sprott Asset Management LP, Augen Capital Corp., Mineralfields 2010-V Inc., Pathway Multiseries Fund LP, Sheldon Inwentash, Lynn Factor and Dr. Andrew Budning, representing an aggregate of 42 per cent of the issued and outstanding Augen shares, have entered into lock-up agreements in support of the offer.

Trelawney announces its intention to make the offer after its repeated efforts to engage Augen management in a negotiated transaction were unsuccessful.