The market certainly doesn't seem to think that GXY will pick up...

The market certainly doesn't seem to think that GXY will pick up Bald Hill, neither do GXY short base (Infact GXY shorts have actually increased in that period!)

At 29/08/2019 (the date at which A40 went into VA)

GXY SP : $1.22

9 Weeks later......

GXY SP: $0.94

Down 30%!!!

Maybe the market thinks that GXY's holding in A40 is going to get diluted to buggery (like the rest of us) whence it goes ahead with one of the 11 unsolicited approaches from other parties for recapitalisation. One of those parties is likely to be from Jiangte. Now you reckon GXY's cashed up, wait til you look into Jiangte.....

There's another example of irony for you right there. Do us a favour, pass this onto your mate dolphin flogger- i got him on ignore now, oh and you too after i hit the send button.