I agree, we have improved, but it just seems like the sticking point is the money they need to sink into Ballarat is too great, how they did not know this when they bought it, I don't understand. Then again, I am certainly no expert. It just keeps coming back to bad decisions, bad management to me. Peter McCarthy certainly didn't give anything away in the meeting. It looks like another Bendigo Mining scenario to us.
How do we know if Lion Gold does take over, they won't mothball Ballarat mine? We don't really know what they intend to do as they have only been into gold mining for 1 year. It is all very 'risky', as Scanlan kept reminding us!
A person at the meeting bought up a very good point, we have all invested in the company for various reasons, but many because it is an Australian company, with Lion Gold taking over, why would we be interested, as shareholders, in a Singaporean company, and what benefit do we reap staying invested? I guess that is the 'risk'.
Someone also asked what are the tax implications of selling a foreign listed company, and this wasn't answered, as it will be in the bidders statement.
Hope I'm making some sense, getting a little weary. Just some of my musings.....
Good Luck all.
CGT Price at posting:
14.5¢ Sentiment: Hold Disclosure: Held
