joelstar
I dont see how you can describe the WGX offer as pennypinching.At both 1 for 4 and 3 for 11 it offered a near 80%-100% uplift to the GCY share price in the preceding 3 months.It is rare for a company to receive a t/o offering a 100% uplift in the value of their shares.Hardly penny pinching.What I dont see was the importance of requiring the FFR SID not to proceed.I did not and still do not see how this was a major impediment to the takeover.It is not as though FFR does not have some resources with a prospect of increasing their inventory.It seems odd that the WGX chairman talks openly about revisiting a bid when to do so means WGX will be bidding for an entity that has the very thing it said it did not want,namely FFR's resources.GCY has a mill that needs to be better utilised>Its attraction will diminish as the cost of building a similar mill decreases.Its asic is not good with its present resources and in the absence of finding higher grade ore another bid could be at a lesser price.I believe it has less than 12 months to prove itself in the eyes of the market.Time and drilling will tell.
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Last
$2.42 |
Change
-0.090(3.59%) |
Mkt cap ! $1.146B |
Open | High | Low | Value | Volume |
$2.46 | $2.47 | $2.38 | $7.744M | 3.196M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 5000 | $2.42 |
Sellers (Offers)
Price($) | Vol. | No. |
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$2.43 | 5864 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 5000 | 2.420 |
6 | 88917 | 2.400 |
2 | 25738 | 2.390 |
4 | 30164 | 2.380 |
6 | 41854 | 2.370 |
Price($) | Vol. | No. |
---|---|---|
2.430 | 5864 | 1 |
2.440 | 62756 | 3 |
2.450 | 18714 | 2 |
2.460 | 100415 | 18 |
2.470 | 4666 | 1 |
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