OK chaps, I don't have too many AZX shares, but this takeover thing popped up and I am trying to find out a bit about what's happening before I decide. The posts on here aren't terribly illuminating really. Temu, you sound like a GGG speaker? Can we find an equivalent AZX mouthpiece somewhere?
The stuff about consolidating the project into one entity is a no-brainer, but into an AIM listed entity? Please no! I will have CGT issues,although not big ones as the numbers are small, but even more of an issue is keeping my portfolio local. If there is an ASX listing coming for GGG, why didn't they get that first before scaring the hell out of me? I really don't want AIM stock. If I did, there are others I could delve into.
It may well be possible to run a project from London if you are BHP or Shell, but I would need to know more about who is running it locally before I could say it will work. Michael Short sounds like just the chap to build the plant from his blurb on the GGG website, but I haven't actually seen any reserve statement yet (if I've missed it point me there?), so they are a bit away from that yet. I would be keen to see who their operational staff are as (as usual) I can't see anything except directors on the website. Partingtons blurb on the AZX website says he is a founding director of THEM so I'm guessing his loyalty will stay there?
My experience in this industry says that after a takeover most of the senior technical team DO leave in the next few months. Many moons ago we did, and don't imagine things have changed that much particularly as work is not hard to come by now. Usually they go back to the other lot or all go and start something new together. Don't know if that will be valid here, but until I hear it from the horses mouth,I would assume it will. Especially given the current employment issues they are having in WA mining sector. I hear you can just name your price again there if you have any decent experience. So loyalty will be the only real factor unless they are in love with the project itself (which is possible I guess).
More info needed please!
AZX Price at posting:
64.2¢ Sentiment: None Disclosure: Held
