Goldbug,Great post. I agree, I cant see GBR lasting till year...

Goldbug,

Great post. I agree, I cant see GBR lasting till year end without Westgold doing something. Especially if there is a continual flow of drilling results like we have been getting. But who else might be lurking ? Anyone like to throw out some names.

I would really like to see GBR develop into a miner but with continued good results and interest from more than one party that may not happen.

If you look at the Entitlement Offer Prospectus in the shortfall allocation section it reads to me that the shortfall will be going to company friendly shareholders.

Shortfall allocation
The Directors in consultation with the Lead Managers will have discretion as to how to
allocate the Shortfall to Applicants.
In exercising their discretion to allocate the Shortfall:
(a) the Directors propose to allocate the Shortfall to both new investors and Eligible
Shareholders in a manner considered appropriate to Applicants having regard
to the best interests of the Company and the Company’s desire to maximise
the amount of funds raised from the Offers;
(b) Eligible Shareholders are encouraged to apply for the Shortfall but in allocating
the Shortfall, preference will not necessarily be conferred on Eligible
Shareholders;
(c) where the Directors consider it is in the best interests of the Company to
allocate any portion of the Shortfall to a particular Applicant or to particular
Applicants in order to maximise the total funds raised from the Offers, the
Directors may do so; this may result in preference being given to an Application
from a new investor who is not an Eligible Shareholder