Simrose
Would suggest you go back and do some simple mathematics courses. I agree that he full value may not be taken up however on the calculations you have provided you are assuming the total FAS share price is based upon 25% share in GWR. There is no dilution of value in FAS for every share they pick up - the dilution would be relative to the existing FAS assets not the 25% share of GWR - as long as the 7:1 offer is equal to the GWR asset base. Now what happens when you increase that base and we keep the same equity ? It will be wooshka in FAS books or share price will it not??
Now if FAS own 25% GWR and the price increases $1. That would be 25 cents would it not? Then divide it by total shares on offer and allow for a 5% contingency factor as the market would never reflect the true value. So one can see a 5:1 ration here. Now FAS is offering 7: 1 are they not. Factor in the oil exploration, uranium, any gold announcements and say a 5 cent rise is reflected by FAS. Guess what the 7:1 offer to GWR is actually looking pretty good.
the other thing to consider is any attempted takeover by a third party or JV to develop the mine. FAS have the voting power (and the king thinks it is actually round 40% when board is reshuffled) - GWR would pay dividends at some point in time in the future - guess what as FAS equity increases so is the dividend payment - so GWR will actually fund the FAS bid - we do not care whether this goes on 10 years - the board of GWR is strangled till this is resolved.
FAS one announcement - new takeover bid - GWR will never have time to develop this resource - plus negotiations to cross our tenements are going to take considerable time!!
I suggest you all start listening otherwise - the King told you before - next capital raising at 1.65 - and guess what - we will still own 25% or thereabouts !!!
I say Merry Xmas and Happy New Year - when you talk about GWR are you talking 100% GWR or the 25% we own !!!!!
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Last
7.6¢ |
Change
0.000(0.00%) |
Mkt cap ! $24.41M |
Open | High | Low | Value | Volume |
7.6¢ | 7.6¢ | 7.6¢ | $4.13K | 54.34K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 13888 | 7.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
7.6¢ | 45653 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 13888 | 0.072 |
1 | 50000 | 0.071 |
3 | 339285 | 0.070 |
1 | 50000 | 0.060 |
1 | 24414 | 0.041 |
Price($) | Vol. | No. |
---|---|---|
0.076 | 45653 | 1 |
0.080 | 104751 | 1 |
0.090 | 2315 | 1 |
0.095 | 107746 | 1 |
0.100 | 91375 | 2 |
Last trade - 12.56pm 16/08/2024 (20 minute delay) ? |
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GWR (ASX) Chart |