some unnamed WA company or investor approached them with a takeover offer to the board. Would have brought it before the ELL vote and the capital raising vote. Conditions included selling the gold assets
Company declined offer, WA Company obviously decided not to launch an offical takeover offer. (unnamed confidentiality reasons)
also over jan-feb a company called moongold Pty Ltd within about 3 weeks brought up a substantial shareholding in the company and then offloaded the stake.
The offer from the other unnamed source came within this timeframe
No links been made and probably cant be made between these two events, i think moongold probably sold out due to the fact that the chart went south during that time as well. sounds like they were an investment company anyway. Maybe got spooked by managements knockback for this other bid that was made by some unknown source and decided to cut their losses and try something else
Personally i think from m yresearch the gold assets are worth more long term than the iron ore tentements though the market is more excited ( and the company) by the iron ore
If the ELL thing goes through a name change to hawthorn resources more capital raisings have been flagged in the AGM ann. And ELL uranium deposits will be added to GNLs tentements
GNL
great gold mines nl
