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Ann: Mt Cattlin update,GXY-GMM.AX, page-14

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hermans

368 Posts.

19/07/16

10:02

Post #: 18304210
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Originally posted by yanlin ↑

Hermans,
I wouldn't worry too much. GMM have just sent out a letter to its shareholders recommending they accept the GXY offer (in the absence of a superior bid). Once the Directors and their supporters exercise their acceptances we will be well above the 80% threshold.
We have until 29 July and this mornings announcement is a big incentive for GMM shareholders to act and remain invested in the Mt Cattlin project.
Doubling of production and suggestions by management that FY17 production will pretty much be sold should see a big surge in price - IMO.
Be patient and don't be tempted to take short term profits.
GLTA

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I'm not worried at all. This ann just shows that the merger is all there is at the moment. It's also a good argument to defer (if poss) the DFS drop until after the merger is done.

GXY Price at posting: 47.5¢ Sentiment: Hold Disclosure: Held
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