"Looks like ansteel is gearig up for a take over . As so as they have full control, gbg on the verge of going bankrupt, ansteel will put their case forward to the Aus govt for a full take over."
The Chinese business partner wants this business - which explains the price action in trading over the past months.
I think the way to play this is you take advantage of dilution if there is a capital raising and BUY to average down. At these levels none of us are risking much in the way of extra capital. Takeover price somewhere between here and 0.25.
We all should have seen this coming - given the way the Chinese have structured their ownership in this business.
To the moderator - screw with this post and I will register a domain and go "all-out" in my criticism. Other followers will find it easily enough.
The obvious manipulation of the price of this business has been a disgrace for months. We have good people on the ground informing us of the good news regarding progress (because management won't) - and management telling us a story that matches (when pushed). The only way management gets it wrong to the point of needing to raise capital at this point is deliberately.
I don't hold a large position - and my entry is quite low - but I am just PISSED at how obvious it has become as to what is happening here.
GBG Price at posting:
16.0¢ Sentiment: None Disclosure: Held
