Ann: WGX: Westgold Prepares to Lodge its Gascoyne Takeover Offer, page-20

Well, GCY hold over 52 million shares in FFR, so WGX is not only offering lowly scrip for GCY but will also be purchasing nearly 17% of FFR, effectively for nothing, which they can then on-sell.

This WGX takeover bid is opportunistic, and their propaganda is unwelcome and "spurious".

If they want GCY then they should get serious and stop trying to practically "steal" the company.

If they want GCY then why don't they show some respect for GCY shareholders, why don't they at least "try" and show GCY shareholders how they will be treated under a WGX regime. From my viewpoint, WGX have tried to do none of this.

Instead, WGX appear now to be resorting to "bullying" type language.

This tells me that WGX probably does not look after their own shareholders very well !!!

This is what WGX should do, if they really want GCY, and really respect and value GCY shareholders.

1.  Offer 1 WGX share for every 3 GCY shares.

2.  Offer  3 to 5 cents (cash component) a share in cash for every GCY share.

3.  Promise GCY shareholders that before the takeover completes, all 52 million shares in FFR will be" freely" distributed to GCY shareholders (based on each person's holding).

If they can't (or won't) meet these provisions, then they should go back to their own holes in the ground and keep digging up their own dirt and processing it !!!

Gw