This afternoon,I called GXY Perth office and spoke to the secretary. Question: What is the "sentiments "of major shareholders in regards of the offer? Answer: They indicated they were all favorable to this offer. Q:What is the situation in regard of the Nov. bonds? A: The company is working towards assessing and restructuring this issue. Q:Any forecoming annoucement to lift the spirit of shareholders? A: If the company feel there is a need for it , but none planned at this stage... Q: what is the latest to accept the offer ? A: Monday 7 PM . Payment can be made via BPAY on Monday.
I have been sitting on the fence for weeks. Call me gullibal or stupid but i think this offer will work out. Only 2 senarios:
A: Nobody or a few take this offer and all is lost . A few grants for most of you , $300 000 for me and millions for the major shareholders.Assets sold for nothing to Chinese/ different company/ new senario/everybody loose...Game over.
B: Everybody play ball,invest more money and the offer is fully suscribed. The company manage and refinance the debts and GXY is back on the market with an experienced, bruised and wise board of Directors.The directors keep their pay cheques and we are still on the chess board.Jangsui plant get the 5 millions for the upgrade to reach full production and generate the only short time profit foreseeable, Sal De Vida is back ( with or without the Koreans)and the debts are reduced..
To me it is not rocket science, together we act and win or together we sink... I have already taken my full entitlement and invested another $ 38800. I beleive GXY can be the largest Lithium producer in the world and right now it is up to us.
GXY Price at posting:
7.8¢ Sentiment: Buy Disclosure: Held