There is some more talk in the market that Silvermines - which still has some Irish shareholders to go with its Dublin listing - may be hit by a revived bid from former chief executive Mr Clem Jansen. Mr Jansen had a 46psterling-a-share bid for Silvermines spurned by the board a few months ago, but the shares perked up earlier this week on speculation that Mr Jansen might return with another bid north of 50p sterling, valuing the electronics group at more than £48 million sterling (€73 million).

Some believe that Silvermines chairman, Mr Bob Morton, a man of many parts with numerous investments in British smaller companies, might be content this time around to let the group go to Mr Jansen.

Mr Morton has a reputation as something of a small-company guru and late last month used his Just Results company to buy 15 per cent of Future Integrated Technology, a small telecoms company whose shares have since soared on the back of bid speculation. Mr Morton's company is being touted as a potential bidder for FIT and, if so, this might keep him preoccupied and put a question mark over his long-term commitment to Silvermines.

We await developments.