it certainly can seem like a strange announcement, moving Georgina into another related company
however, i suppose if GRV are to raise CAPEX for Alpha, they generally are required to divest non-core assets. that's how it goes. a lender doesn't want their money going towards another asset
Biddle owns 9.15% of GRV (based on my count; i don't know why the 15 million performance shares have not be allocated to Biddle; i counted exactly the 30 days required for the 40 cent VWAP; the 20 and 30 cent VWAPs were met)
Biddle appears to own 2.5% of ARO so, according to my impression, he may not be gaining anything that is a conflict-of-interest by divesting Georgina
as i said, with the DFS/PFS, whatever, coming, lenders don't want capital hungry non-core projects on the books
it takes loads of DD holes to find a IOGC system
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