Exactly as long as they burn down their huge investment I can sleep at night.
Pretty smart move here from the chinese let GXY think they have it then come in late with this move it's a gun to the head to accept the deal.
GXY lost the debt hammer now, the chinese will have the hammer anything GXY do to block the proposal will cause A40 to now be in default to them not GXY, so it's back to square one with GXY now in a bad position.
Brilliant move completely check mated the "carve up"
GXY only move now is to actually offer some script for the company, make a fair offer of script or end up not only losing the mine the synergy the ore blending the customers and the downstream.
But also look like the dumbest people the asx have ever seen combining with tribecca to be the brains trust to force all their own huge equity positions into default, which in turns ends up with them getting nothing if they don't play ball.
Australian company combined with Australian fund to go after another Australian company and in the end unrelated chinese party probably going to come away with the spoils unbelievably stupid all round.
A40 Price at posting:
8.2¢ Sentiment: Buy Disclosure: Held
