GBG gindalbie metals ltd

its not what they would like us to beleive, page-17

  1. 912 Posts.
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    Ansteel don't hold all the power on funding in the sense that gbg have another card to play. If gbg were to go bankrupt it would have to sell the entire company or 48% on free market. Ansteel isn't guaranteed the right to its 18% that it currently holds and may in fact face regulatory hurdles before even placing a bid. This means if gbg go burst Ansteel could be reduced to a 52% stake with the remainder owned by a new third party that buys our share at fire sale prices. Hence the funding from Ansteel is also in their interest to protect their ownership. Ownership that is not guaranteed if they screw over gbg shareholders. I think Ansteel lent money to gbg on favourable terms because Ansteel need gbg to remain in its current form and gbg took the money because Ansteel are offering more favourable terms.

    Admittedly the question as always is when will the mine start working?
 
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Currently unlisted public company.

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