Ann: Administrators commence recapitalisation process, page-140

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GARETH78

8,129 Posts.

2884

13/10/19

19:08

Post #: 40859186
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Originally posted by Rick19: ↑

Yes mate, i can see why it is important to them.

Surely even the GXY holders would recognise that with Mt. Cattlin's dwindling mine life and SDV and JB seemingly a pipe dream at this stage, Bald Hill is their best bet.

As for competition, im expecting plenty too. Read a few posts suggesting Jiangte is the wildcard. Im of the opinion that Jiangte has a big role to play in all of this but to me they are not the wildcard. To me, Haitong (the guys that took over Burwill's 89 million shares) are the wildcard.

I say this for no other reason other than i have dealt with the chinese for much of my 20 year working life. I have come not only to learn but to understand their psyche well.
In their eyes, they are not winning unless someone else is losing. When situation is reversed, they take it personally and it becomes a matter of honour and pride. Generally, They will throw as much money at the situation as is needed should their be even the most remote chance of retrieving their original investment.

Sometimes its throwing good money after bad, sometimes it isnt.

Time will tell

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It will all come down to numbers. Who controls the vote.

Neither Haitong or Jiangte has any vote at the creditors meeting.

Either GXY management have been very clever or very stupid.

Lets see.

A40 Price at posting: 8.2¢ Sentiment: Sell Disclosure: Not Held
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