Galaxy to buy tawana, page-12

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schmunzel75

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28/09/18

08:25

Post #: 35898245
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Originally posted by schmunzel75 ↑

This AFR article is full of misinformation, opinions veiled as facts and badly researched.
For example, mine life of Mt Cattlin is expected to cease in 2023!
Didn't we figure out that Mt Cattlin has at least 7-10 years at current throughput?!?! That is 2025 and later! No mention that Mt Cattlin is undertaking a major drilling campaign to extent mine life even further.

However, Exhibit A could suggest that GXY is cooking something up:
If GXY has taken a position in TAW and Alliance Mineral Assets just under 5% each, then the Financial Report would indicate that. Unless GXY has taken positions in both companies after 30/06/2018.
The Financial Report shows Financial Assets of US$23.24Mil, an increase by ~8Mil.
The 2017 number includes GXY's 12% holding in LPD. At 30/06/2018, the stake in LPD was worth US$10.73Mil. A 4.9% stake in TAW would have been worth US$8Mil! And a 4.9% stake in Alliance Mineral Assets would be worth US$3.374.
So, theoretically, the Financial assets at 30/06/2018 are close to a 12% holding in LPD plus 4.9% stakes in both TAW and Alliance Mineral Assets (Total US$22.1Mil).

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Correction:
The LPD stake of AU$ 10.73Mil = US$7.73Mil was acquired 12/10/2017 and wouldn't show up in the 2017 Financial assets but the 2018 Financial assets. Thus, the increase in US$8Mil in Financial assets from 2017 to 2018 could be just the LPD stake. Apologies for the confusion.

GXY Price at posting: $2.48 Sentiment: Buy Disclosure: Held
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