1.5% of heemskirk for 28.5% of stellar, page-5

MR_Fin_2u it does not benefit either ordinary gip shareholders or ordinary Stellar shareholders. If it did it would have been reflected in the share prices.

Smelter fees are never going to happen as the SRZ shares would have been sold off by then and Stellar taken over.
I am sure that with Gandel in control he will have no problems getting Heemskirk financed.

Of course to get total control it might mean very heavy dilution of existing shareholders both here and at a Gip but doubt he sees that as a problem.
Certainly directors here do not as this deal will heavily dilute Stellar shareholders.

Sears certainly not being told the whole story what’s this mysterious agreement from the seventies and why are the directors here (with their tiny holdings) going along with giving the company away?

If it was such a killer problem why did they swap away from the Tarcoola Iron Ore as the leading project?

Leveller not going to see much reflection in the shareprice if Gandel is waiting in the wings to takeover the company for peanuts.

Quote..In the event of that Gippsland decides to distribute the consideration Shares to its own shareholders any remaining escrow period will automatically expire...

Effectively SRZ not even protected for the two six month period quoted. Would be child’s play for Gandel to dilute Gip with another cash raising (underwritten again by him) then distribute the SRZ shares out giving him a massive holding at Stellar.

Or just play the long game and just sell the shares on the cheap at later date to anothr of his companies or a new one.

Looking at the patern of shareholding i think you have a good chance to kill this deal if you get organisied now.

I would not wait for the independent experts report Lol.

Robert