it was always going to happen in some form given the size disparity of the JV's and how little GOR add value wise. I sold a reasonable amount of gor after the deg deal.
gor has been good to me, ive been in and out of it a lot in the 1.20 to $1.90 range so im a bit sentimental with it.
my criticism of the deal isnt so much the offer (i havent bothered to see if i think its fair or not) but the timeline. feels like a 'shit or get off the pot' and a big call option for Gold fields. if gold price continues going up they get gor fairly cheap, if gold suffers a correction (that is probably overdue) can they pull the pin?
all while holders sit in limbo a bit with capital tied up and at their risk with no ability to participate further in any further gold price upside.
i also cant see an interloper participating given the jv.
not that it matters but i would have preffered to sell half of gruyere only, pass through the nst shares and then return to what they are good at. exploration.
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