I don't like the idea of giving Mt Venn away let alone at that bargain basement price. But ...
I like the fact the GBR will be holding on to the shares rather than distributing so they will be held tightly
There will only be approximately 25 million shares available to trade, so very tight and will double or triple in price from that low level very quickly on listing.
Can then raise further funds down the track at a much higher price
I like the fact that Ziggy is involved, he's good value.
Best of all, if the 25 m shares can be offered prorate to existing share holders then we really haven't given anything away as it will be fully funded by existing share holders and we retain 100% of the new company directly and indirectly. (apart from a very small sprinkling to brokers involved)
Make the offer renounceable for those shareholder who cannot afford to take up the offer.
The second last point is key to maximising value to share holders and is the only way it will get my vote. It would be a very good outcome for all shareholders for this prize asset.
GBR Price at posting:
15.5¢ Sentiment: Buy Disclosure: Held
