I knew this bid was coming, the writing was on the wall, Mike and his mates have been seeking oppurtunity and this one is so obvious. I was waiting for a pay cheque to come through this week and was going to load up big time but not to be, timing off by just 1 week sad times.
So, skip (& Scott Farquar) have been a holder for a long time... You know, it is in their best interest to put a bid in, raise the share price, and then be denied. Doing this means GNX can then use this higher share price (wherever it stabilises) to set a higher price than the lows of 12-13 cents ps for their capital raise for the wind project. If Scott Farquar is truly a hero, this is exactly what they're doing. Assisting management set a higher share price for the capital raise when it comes.
If the bid is denied (I hope it is), I'll pick up another small package if the price dips. If the price stabilises not too far from the price at the time of posting, I wouldn't be surprised if management takes that opportunity to capital raise and push the wind project.
We will see hey.
Does anyone know when/how long till we find out whether management denies or...???
GNX Price at posting:
19.5¢ Sentiment: Hold Disclosure: Held
sad times.
