It's a waiting game, page-390

@HamburgerK has nailed it.

The FMG notices & trading history clearly show:-
- FMG had 15.0% not 19.99% (ASX notice)
- FMG sold only 3.63% to Gina at exactly 4.2c on market (both tranches)
- the 4.99% difference was twiggys private holding from his 5.0c CR in 2016 which appears NOT to have been transferred to FMG nor to Gina and I presume twiggy still holds it
- 29% of shares traded were above the bid of 4.2c and NOT sold to Gina
- someone else very large not being FMG twiggy Gina or MIN has been buying AGO stock above the bid price and holding long

and looking at the daily trading volume now at a 12 month low of 10M so far today, it looks like the acceptances and onmarket volume has dried up with HPPL not even bothering to post the daily volume accumulation.

The next sub holder notice should make interesting reading, if its not over 60% say 54.8% to 56% and the acceptances have depleted as we know the onmarket sales have depleted substantially then Gina is going to end up with 60% at this rate forget 64% or 90%.

Gina knew FMG had a blocking stake when she bid and would have been advised she may not achieve 90% and that AGO would then stay listed with her as majority owner. She knew this may happen. And there is clear resistance over 60% from the holders.

AGO will stay listed with new management & a tight share register controlled by the 2 great aussie families Hancock & Forrest, I correctly called this 6 weeks ago. My predictions for an EGM director battle, JV deal and recap is the next step.

The market hasnt realised it yet, that AGO is a strategic asset that will remain listed under Hancock and Forrest's control.
The fat lady aint singing but she has taken the controlling majority stake and cleaned out the dead wood & poison for all of us long termers.

I urge Gina to accept her bid has failed and to start the process of consensual management, responsible control, deal making & recap and rebuild AGO into the $4B powerhouse it once was.

Thats why I HOLD LONG & HOLD STRONG!