it would appear that GLN initiated the coal acquistion in December 2008- in the heart of the GFC- in this case, perfect timing for such an acquistion i.e discounted substantially- however, as the economy improved dramatically, logic says that Namane Resources has "possibly" reneged on the deal. It is difficult to follow this in sofar as GLN has provided limited details on the legal case.
I am fairly confident that GLN will win substantial damages from the namane resources, and this will re-rate gln to at least 6-8c- lets hope this is the case.
Look forward to their work on the peak hill tenements- near SFR also, and possibly the proceeds of the damages are utilised for a further company making deal.
it would appear that GLN initiated the coal acquistion in...
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