I would be more concerned about the continuing Ansteel issue and actual development opportunity that willl arise. Ansteel will get enough coda shares because of their gbg holding that they can exert control over any capital raising that are needed and capital raisings will be needed if coda is to go ahead.
It is like they split the offer in half. 50% for shareholders and 50% in a trough for the directors to snack on.
the good news is that it means gindalbie will be owned by people with deep pockets. Until this offer, no one could sue gindalbie for misleading the market (assuming someone has relevant evidence to make a case) because gindalbie has no money and you can’t sue the broke.
I wonder what will appear from the woodwork now that a golden pot has arrived... it was only a matter of time.
GBG Price at posting:
2.6¢ Sentiment: None Disclosure: Not Held
