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13/08/14
19:47
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Originally posted by mc117
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Does anyone have any background info on Bryve Resources?
From the announcement:
"In addition, Shaw River’s major shareholder Atlas Iron Limited (“Atlas”) will sell 9.69% of Shaw River’s issued capital to Bryve at a price of A$0.0035 per share. Subject to Shaw River shareholder approval, Atlas will also grant Bryve a six month option to acquire Atlas’s remaining 43.76% shareholding in Shaw River at an exercise price of A$0.0035 per share."
So AGO are giving away their entire stake for a discount the the last months trading range.
The options convert at a slighly better price.
I'll be interested to see how the market reacts.
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On first reading, sounds like a steal for Bryve. Possible merger down the track?
To the positives, a strong chance to really motor towards near-term production.
Acquisition price likely to impact Thursday opening, balanced out by the potential for production and subsequent revenue stream.
Thoughts?