Anthony09, as others have already said here calls to shareholders likely reflects they are not confident of the numbers in their favour. The expectation would have been 75% of the vote would come easy as the top end holds enough for this but now not so sure with the change in iron ore price trend. But the 50% of total shareholder vote needs the support of the small holders as the numbers are greater with them. So I have a hunch those getting the phone calls are mostly the small holders.
Interestingly given even 62% ore is making A$150+ why would small holders want to accept 2.6cents? They lose nothing by voting 'No' but stands to gain hugely. If the deal does not go through GBG share price is likely to be above 3 to 4 cents as GBG has already quantified the value of Coda here (i.e. even without factoring in the change in market trend for iron ore). If you do factor it in ( as market experts predicting the trend to last for 3 to 4 years) the chances are that the GBG share price could go up significantly more!
Keith did a big buy recently. Can't see him gaining by buying at 2.6cents in any other way but (1) gaining from the Coda entitlement if the deal goes through, or (2) gain from the potential for the share price if the deal does not go through. So for someone who did not hold much shares suddenly GBG looks very attrative as a hedging opportunity,
