Personally I can't see how it's the end game just yet.
NGC still have to deal with the other subs who have also paid around $0.08 or $0.09 for their stake.
Subs are:
Bhansali 5.07%
Ikhlaq 15.28%
New Gold Coast 19.98%
Sinetech about 8.5% after dilution in Feb
How are they going to take them out?
The only way to clean this up is for NGC is for them to offer a TO premium otherwise why wouldn't they participate at $0.08 if they think the premium is 30 or 50% above that?
Ann: Funding structure changes and director appointment, page-12
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