There is a little more to the story.
A few years ago GOR was in much the same position as DEG are in now. They were an explorer who had made a very good discovery that was too good to leave undeveloped.
The option they chose was to sacrifice 50% of the mine to Gold Fields and in return Goldfields would pay all the development costs, run the mine and share the profits 50:50 with GOR.
Another item in the agreement was that Gold Fields were never allowed to bid for GOR unless another acquirer made a bid and GOR were in play.
I see DEG as having GOR as a millstone round its neck. No one else wants to touch them. Generally, a blocking stack is regarded as quite a lot less than 20%.
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---|---|---|
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27 | 235838 | 1.245 |
18 | 150834 | 1.240 |
17 | 547015 | 1.235 |
4 | 133876 | 1.230 |
Price($) | Vol. | No. |
---|---|---|
1.255 | 24007 | 7 |
1.260 | 252780 | 23 |
1.265 | 251603 | 16 |
1.270 | 301944 | 22 |
1.275 | 138662 | 14 |
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