Can those of you smarter than me give me a quick summary of how...

Can those of you smarter than me give me a quick summary of how Scheme of Arrangements work? How dare the current Board support such a low ball offer of 2.6c for our GBG shares. Most of us long term holders are way under water on this one,. For me to even start to get interested, a minimum offer +10c is necessary.

The timing of this offer from Ansteel just seems incredibly coincidental and opportunistic. In my opinion it's a total rort.
The 62%Fe cfr price jumped over US$95 p/dmt overnight (AU$133). The 65%Fe cfr premium is around US$106 p/dmt (AU$149).

I don't care what anyone says, but Karara is making plenty of cash at these current IO prices - and that includes after servicing the debt.

Be careful folks...we are being played!!