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hazy250

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05/01/21

14:23

Post #: 49953838
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Originally posted by ozblue ↑

If it was one, or perhaps several Australian listed companies (if we were lucky), that launched a T/O for Strike, I would assume they would try to do it with mostly/all scrip, therefore only costing a little bit of dilution and not much cash.

This means that there would be quite a few companies that should be able to do a T/O. However I would also assume they would have a good hard look at the top 20 in our register to work out if they had a good chance of gaining the company for a 'reasonable' price. If the top 20 is right behind Management to lead the company into being a future producer and mid cap company, then I seriously doubt any attempted T/O would be successful.

The only company likely to offer all cash IMHO is someone like Mitsui, but the current ban on our Perth Basin gas being exported probably discounts them bidding at all.

I'd expect to see someone building a position in the company, via substantial holder notices well before any type of T/O attempt. So far we have not had any new substantial holder notices in the last year. Looking at the top 20 from the 2019 Annual report to the top 20 in the 2020 Annual report shows a few minor changes around the edges, no real great movement at all.

While circumstances keep changing, and the Ironbark duster puts us higher on the radar of other companies, a T/O looks to be too difficult unless we get offered a ridiculously high price, which of course would be nice, but I don't see management of well run companies being that generous, unless they are a lot more desperate for gas than they have informed the market.

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