This Sandon's presentation is very tricky. In fact, it is a...

This Sandon's presentation is very tricky. In fact, it is a PRO-Ansteel acquisition of GBG shares at the price of @ 0.026.
This is the showcase for Ansteel and GBG . As shareholders have voices about the low Ansteel's offer price @0.026 and will vote 3 NOs, That presentation now suggests that no demerger of Coda and the GBG A$7.2M (= 0.009 per share) to be transferred to Coda to retain within GBG which thence will be acquired by Ansteel, so that Ansteel can offer 0.026 + 0.009 = 0.035 each share for the acquisition. That is, Ansteel does not increase the price but acquires all our shares at the same original very low price of 0.026 per share, regardless the Karara and GBG assets and rising iron ore price.
Sandon Capital may be paid by Ansteel. Acquisition @0.026 each share is their aim .