Gtsman, the only thing you've overlooked in your calculations is that when fas receives 25% of gwr, their market cap will be substantially higher with a lot of new shares allocated. Therefore the 27 bagger equation won't happen. If GWR rises, so will FAS at a similar rate.
I wouldn't be surprised if FAS are starting to buy GWR on market or making off market offers to major holders. If they have revealed that they could underwrite the rights issue with finance approved, they may also have finance available to start buying GWR. The question is - who was buying GWR on Thursday and who were the bidders at 2.00, 2.01 and 2.10 on Friday................
I also wouldn't be surprised to see FAS reveal an iron ore target. This is just my gut feeling.
I still hold GWR and have not taken the FAS offer. I will be watching closely to see what happens. Walliska seems to know what is happening. Has he given clues? Has he converted to FAS?
trading halt, page-66
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Last
7.7¢ |
Change
-0.002(2.53%) |
Mkt cap ! $24.73M | |||
| Open | High | Low | Value | Volume |
| 7.6¢ | 7.7¢ | 7.6¢ | $15.85K | 208.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 138000 | 7.7¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 8.5¢ | 200000 | 1 |
View Market Depth
| Last trade - 13.09pm 26/07/2024 (20 minute delay) ? |
| GWR (ASX) Chart |