Wait a sec. Let me get this straight.
You mean I had the option of not paying for my GMM shares?!?? They were freebies?
I paid plenty for 'em. At times, quite a bit higher than this ratio.
I come out ahead but there isn't much in it. Honestly.
It's no more than a small shift in the GXY share price.
No time to be an anti-GMMite. They're good people too.
Welcome them to your Galaxy. We destroyed their home-world and we owe them a chance for a new and better life here.
There is a graph posted by @nambo1 - on the GMM chart thread there a while back where GXY at 1.65 track pretty darn closely. There is no bonanza of freebies and GMM holders are being recompensed with a bigger future here with SDV etc vs their low dilution/high performance stake in their current position.
If you were a GMM holder you'd know how tightly held those shares were. The Top 20 barely moved a jot and there are plenty of shares that are completely held by Fotios & Friends. Management never sold a share.
That tells you a lot. This is one top heavy company that believes in what it is doing.
Fotios will become one of the largest holders of GXY. If anything the GMM holders will bring a bit more stability to the party. Its the Galaxians who have always been more fickle. GMM is stacked with LT holders who know what Fotios did with Northern Star.
The way the merge is structured, those GMM shares will dribble in slowly to the GXY pool.
Early voters get theirs first. I'm one of those. The type that looks at long term benefits and was easy to persuade. Those who didn't want in have had their chances to sell out already.
Three weeks after the merge is sealed, the remaining Galaxified shares come in from the big holders and late voters.
By then volumes and interest should be up. We'll be on the verge of first shipment with more emerging news about a SDV timetable. James Bay DFS will also be on the cards. It's not a barren or hopeless landscape that the new shares emerge into. Plenty of new stuff happening in the Galaxy and we will see the benefits almost immediately when first shipment balance payment and the new advanced payment for 120kt in Q4 are no longer halved.
The market cap, the 100% owned assets, the financial clout and the positive boost in earnings is what is on sale with the merged company.The uncertainty has been priced in - but the downside has been on this NOT happening.
As I had hoped at the outset, it looks like the SDV DFS should land just after the merge is declared a success.
This should more than steady the ship and bring in another set of investors who have been wanting to see the detail.
The SDV plan needs a merged GXY to achieve the best results and the merge now seems mathematically impossible to fail. (particularly after @Thesi voted).
All engines ready to engage.
GLTAH
GXY Price at posting:
45.8¢ Sentiment: Buy Disclosure: Held
