merge pdy and agu, page-7

Grgo, AGU was originally just a scam company with Scook pulling the strings. His son in law was the main beneficiary and director. PDY (GPN back then) was also controlled by Scook and had McInerney and Geary on the board as well as on AGU and YRR. (Geary has since gone on to browner pastures such as AEX, lol). Scook with the help of others scammed their way to about 65% ownership of AGU through dodgy vends. They would still have control had they not kept reducing their holding by continually selling their free 99m shares at any price. The dilution has been done now and nothing can change that. AGU and PDY holders showed their resolve against the opportunists by steering clear of their lowball offers through DUO and FEL last year.

Any further dilution will come from current options and nothing can avert this other than the sp being totally decimated. Not much point to that when you have the makings of a large project and require cash going forward. At least by merging the 2 companies you avoid dilution because you are picking up an asset for comparable value as shares issued.