well well well.... what a day or week... lol Clearly the market doesnt like the deal... and understandably why should they?? When the Chinese bought in all the expectations was for a sweet takeover, instead it was something opposite.. lol Like expecting a beer but instead u get a glass of apple juice...
Talking to a colleague at work who is also in GDO, he noted some interesting points.. he stated "why would u pay 250mil for a 30+ year old mine, operating marginally or negatively, hope to improve it to make it profitable when u can build a new mine like Modder East for approx half that amount, which already been proven a successful model... Why take this huge 250mil risk?? There already got mountain of gold resources that can last them 40years plus, they didnt need anymore.... etc etc etc"
I asked him 3 questions?
Why has the bank/instutition etc happly ready to loan 210mil to GDO with such high risk project?? remember thats more than half of MC... They gone nuts????
Why did the Chinese buy 17% stake (at a premium) just prior to this anns???
Why is Mr Foreman noting repeatedly that there could be change of control and offer to shareholder to aquire all there shares??
Answer: Chinese backdoor entry of ownership of GDO yet to be finalized!!
what is going on , page-42
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