I would be thinking an off take offer would be between 20 to 50mil depending on the deal that was given. this will still be a better deal than selling out the best. Assets for $150 mil. This deal would have ended GLN. Without a world class asset the money is useless. A takeover offer would have been better as all SZh would have benefited i dont think JP rejected the offer for his own greed and personal goals. The board wouldn’t allow that. it would be nice to see a 100mil or higher offer free m the off take partner. This is probably where it should be as a minimum but with the current situation GLN are operating with their pants down and are an easy target to get smacked down at the round table by a cashed up partner. They will be pushing JP for a favourable amount of equity or they wouldn’t be interested. usually the scumbags holding the money get what they want and it’s not always roses for share holders. I hope I am wrong and they can lock in a $150mil deal with a partnership of GLN holding at least 60% stake. Not 30%.
GLN Price at posting:
12.0¢ Sentiment: Buy Disclosure: Held
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