Good post moimoi. Probably all true. Sadly. .. Had a small...

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sisyphus

3,302 Posts.

47

22/08/19

13:10

Post #: 40096682
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Originally posted by moimoi: ↑

I fear you may be being rather optimistic there DsmO.

Easy enough to see how an independant report will note..

- no competing offer
- effective control is already held by GM @ 35% or thereabouts
- which pretty much ensures there won't be a competing offer
- uncertainties around success of future exploration
- uncertainties around success of a small scale mining operation as alluded to in the target bidders statement
- the lack of market interest in the stock as evidenced by torpid share price and low volumes of shares traded despite trending Au price
- which potentially would be worse in the event GM were to get over 50.1%
- risk around required future capital raisings particularly if GM doesn't participate as "noted" in the target bidders statement

I also suspect it would be naive to believe that GM hasn't canvassed the view of Sandon Capital and Phoenix Portfolios. It just seems to be the way these things are done. IMO these sorts of bids aren't undertaken without the bidder being pretty certain it will get up.(or get up to a level that suits them)

Seems ironic that shareholders are being "offered" 14 cents per share which is the same as what was "returned" to them from the 4Mile transaction. GM thereby in effect using the funds received from AGS to buyout the remaining AGS'ers.

I'm wondering if a heavy set Lady hasn't just warmed up her vocal chords, is on the stage, and is approaching the microphone....(albeit slowly)

And fancy Jayson1 / Famer Oscar popping in to say hello. A former prolific and enthusiastic poster on the AGS threads. ;-)

GLTA.

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Good post moimoi. Probably all true. Sadly. .. Had a small chuckle at the irony too

Not so sure about Sandon’s acceptance being a fait accompli. But as they too are going through a takeover right now perhaps the timing is opportune - should the valuation be in the ballpark. ... Sandon’s philosophy is activist and value seeking.

AGS Price at posting: 14.0¢ Sentiment: Hold Disclosure: Held
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