Sparta have a little over 16m shares in GCY or 6.46%

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tully7

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30/09/21

10:45

Post #: 56458684
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Originally posted by Flying Roo: ↑

Unless sparta is a GCY holder sadly they have no bearing on the outcome. . They most likely bought like I did because it was great value on the demerger .
Not sure ATM . Like you I am a GCY holder so maybe the trade is to sell both and be done with it.
More risk ATM holding FFR in my view if Westgold goes ahead,

The Independent Expert valued Firefly shares at $0.040 - $0.057 with a preferred value of $0.048 per
share6
. Based upon the Gascoyne ASX announcement of 16 June 2021, the implied offer price from
Gascoyne for Firefly is $0.145 per share

The Westgold Offer
The Westgold Offer provides Gascoyne shareholders a substantial premium to the Gascoyne share price.
As detailed in the Scheme Booklet, the Independent Expert valued the Dalgaranga Project and residual
resources in the range of $44.9 - $105.1 million with a preferred value of $76 million10 or $0.303 per
share11. This excludes the estimated present value of corporate costs, other assets and liabilities, and
transaction cost associated with the Firefly Scheme.12
If the Firefly Scheme were to complete the average value ascribed by the Independent Expert to the
combined group is just $0.183 per share, making the Westgold Offer absolutely compelling13.

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Sparta have a little over 16m shares in GCY or 6.46%

FFR Price at posting: 10.5¢ Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

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