What is this obsession with Realm paying dividends??
The chances of Realm ever paying a dividend (apart from any use of minimal franking credits when paying us out) is 0.0000000000000000000001%.
It's simply not going to happen.
Taurus have no intention of paying a dividend. The only intention they have is to have 100% of the shares, and that is sooner rather than later.
This will never re-list. Taurus never had any intention of re-listing (quoting a HC post from Petercalk) or completing a capital raising.
I cannot see The Takeovers Panel or ASIC stepping in at this stage.
The only possibility around this was under a little known rule called 'the spread test'.
I don't know how many shareholders are left, but I would be pretty sure there are not enough shareholders left (in number) for this to happen under the spread test rules.
We will not be long term shareholders here.
Taurus have already advised the ASX they have advised ASIC they are proceeding with General Compulsory Acquisition.
My belief is the updated JORC statement will NOT be released prior to a new IER being completed. The only way it will be is if ASIC demand it (as per complaints we have lodged). I don't believe ASIC will stand up for us, they don't seem to have at any stage yet (to my knowledge). If Taurus know a way where they can pay us less, they will use it in my opinion. This is one way.
It (updated JORC) will be used in the near future when Taurus try and sell the mine, but we won't be holders when the benefits from that will be seen.
I haven't studied in great detail what happens next.
I am starting to think the new IER will be completed and released.
Let's say, for the sake of it, it says fair value if $1.80 to $2.00
Taurus will then make an offer of $1.80
We sail off in to the sunset.
They sit back and count their millions.
@Van88
Taurus did not "waste" millions of $ buying shares at $1.35
They know the shares are worth multiples of that.
Buying those shares at $1.35 ($1 of their money, and likely $0.35 of Realm's $) is brilliant money management.
They will make a brilliant return on that investment in the coming years.
