It is much wiser for GXY to put JB and SDV on hold in current climate and secure good grounds in OZ ,close their mine.
Right now is the numbers game.
If GXY was eyeing BH (and I have no doubt about it) the game have change against them.
Yes, I know MC does not agree as GXY are not predator but a friend.
We have new shareholder taking Burwil stake and if another Chinese company will exchange our debt for more equity and buy shares from Tribeca, taking over of A40 can be hard and very expensive + $0.20 a share equity may take years to recover.
Taking Tribeca loan just cut possibility of someone else taking more equity in A40 and result in GXY among BOD calling shots.
What will happened now is just a huge unknown. Friendly takeover now / later or another merger like GXY done with GMM.
I doubt they will try to get A40 into administration and buy some assets as they need 100% including our spot for JV in downstream.
Frankly speaking, what I am interested in is to have my investment in A40 still trading on ASX under A40 or GXY and happy to wait for better lithium days
What we were facing was administration and maybe $0.000005 for each share.
Now there is possibility of either selling or holding on for few years which IMO is much better alternative than go into admin.
Don't worry if you lose $10,20 or 50K on A40. Think about MC.
From $600K as CEO he may drop to $450K as GXY's mine manager in BH and even lose recently granted bonuses.
It would be nice to hear from MC what that GXY move means for us rather than speculating on HC.
Look what MC done to us and like it or not I rather see someone else running BH.
As I posted this morning. Not IF but when and what price.
A40 Price at posting:
8.2¢ Sentiment: None Disclosure: Held
