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clock Created with Sketch. 19/08/19
10:24
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Originally posted by nicolas40:
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GXY has a 12% stake in Alita and is NOT a creditor (probably rather foolish by management to not be involved in the debt).If you are the board of GXY why don't you make a GO for Alita at, say, 0.10 AUD per share and get Alita at a steal? “Galaxy has been a minority shareholder of Alliance for some time, and we welcome this opportunity to increase our holding and become the largest individual shareholder in Alliance. Galaxy recognises that the Bald Hill Mine produces high quality spodumene concentrates and believes that the tenements surrounding the existing Bald Hill Mine operations hold substantial value potential, that may be unlocked through further targeted exploration and work on resource delineation. “We look forward to cooperation between the two companies, and sharing our Mt Cattlin experience with Alliance.” does not get involved, allows Tribeca to get in control of the situation, it falls into Administration and it becomes a competitive process GXY has just wasted an opportunity as it might not become the eventual owner...
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