there is no second bid for gdo

After a month and a half off suspended it's good to be back.

As per headline...THERE WILL BE NO SECOND BID FOR GDO.

The deal is well suited to benefit the directors and Chinese (and shareholders if all goes to plan).

I asked the question to Mark Wheatley at a recent conference. He said no second bid at the movement and said it would be extremely (he stressed this point) unlikely.

Obviously the Chinese with their 17% would vote against and unless the deal was better to the directors then they would not recommend or support it.
It is structured for longer term growth and fast growth which is positive.

I'm completely sold out of this at 50-51c.
I think the company has a bright future if it can nail the projects in the pipeline.
But after much review I liked the old strategy of organic growth, the company now has a steroid injection and the near future is uncertain.

I'm not saying the company won't grow exponentially, it sure could and be a major player in the gold industry.
I just think the deal looks like the Chinese and directors are scratching each others backs a bit and shareholders are waiting it out to see if there is any benefit.

As long as Modder East can keep hitting targets and gold stays high then it reduces the risk.

Might look to re-enter down the track...but am out for now with a nice profit.