The problem is GXY 100 % owned SdV in Argentina worth more than $1 b. which GMM got zilch interest
According to A Tse, it can be developed by partnering a"financial" entity and fund the development thru to production taking a 20 - 30 % stake in GXY.
Where is the plan now???????
Now they virtually give away half the asset or $500 m to GMM for nothing.
GMM spent $7 m so far in Mt Cattlin and earned 14 %. equity ; GXY technically buy back the 14 % or $7 m for $200m, what a dud deal. Something is really fishy here and need ASIC investigation.
GXY shareholders need to vote the merger not GMM holders.
GXY Price at posting:
44.0¢ Sentiment: Buy Disclosure: Held