I love it. The formal document including key dates etc is announced (essentially lighting the fuse) on a one month takeover process and it is not deemed a "Price Sensitive" announcement.
What I'd really like to know is when AGS expects the independent assessment of all of the company (gold iron graphite corporate benefits etc) and all drilling results, project metrics (NPV, capex estimates, etc).
AGS hasn't made a recommendation yet on what they consider is in the shareholders interest?
The only downside scenarios from the bid doc are that 1. GM will starve the projects of any his 35% of future capital raising (however as more internal info is revealed then other suitors/financiers may come in and dilute IG/GM by filling the void. 2. Finally if shareholders hang on until more info is made public (ie understand GM's motivations) then our 14c will be paid a bit later.
Please chime in here with any other pieces of gold in this unusual event!
AGS Price at posting:
14.0¢ Sentiment: Hold Disclosure: Held
