Just a thought, but what are GNM going to do with the A$50m they just raised and announced to ASX today? Is it a slight possibility that they will now make a proper bid for REY and make it a slam-dunk bid effort with a cash and equity offer. If they were to make it half cash and half GNM shares they would still be buying a very very cheap asset (I think so anyway). I do not even think that would be enough but this may then bring out other bids and away we go. Maybe, maybe not!
Just speculating on possible scenarios here. I have been very wrong before so do your own research and make your own decisions.
gnm to increase bid?
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