re: Ann: Recommended Takeover Offer for Ampel... Yep, right at...

re: Ann: Recommended Takeover Offer for Ampel... Yep, right at the bottom of the gold cycle IMO and opportunistic.

Given it is a scrip offer, had CEY had a similar price decline to AMX one could forgive the board recommending this, But this is not the case as CEY's share price has not fallen along with the gold sector.

Clearly the board are desperate to sell out the company's assets ... nearly 3 million ounces of gold for little more than cash backing. Anyone work out now much CEY are paying per oz after cash deducted? 8 dollars an ounce! rotfl. The deal of the millennium.

If one has a LT view, much worse than a 15% dilution.

I wonder if there is a sweetener in there to make them unanimously recommend? Or maybe the projects are actually real pigs that will never get up?

Bit of a joke to recommend the T/O given the potential if the board pulled their fingers out and had support of major shareholders. But what Australian public company boards aren't a joke these days?