Sjlasx,
I agree with you. However, there is increasing doubt that GXY will put forward a DOCA acceptable to both the creditors and the administrators as it is looking like they are after a sizeable portion of cash - which investors in GXY don't want to see happen.
The market is sending Simon a message - make sure the offer doesn't compromise GXY's position of strength - its cash balance!!
GXY Price at posting:
95.3¢ Sentiment: None Disclosure: Held