The directors may have lived another day, who was to know that 15 million shares who have not accepted the fairstar bid would supposedly vote against the resolution?s? They didn't even vote for wedlock?? sounds sus to me.....
So what now? Fairstar are still now where close to the 50% of shares needed to take control though they do technical control the company with their friendly directors...... and they will never reach 90% to get the cash..... However "we" the people against Fairstar currently control ~36% of Golden West too so who knows it might be time for big buying? maybe Falak will buy back in? maybe some one else will buy in who is on our side..... then it will time for round 2 EGM.......
Fairstar still have very large debt issues to deal with in the near future...... and i'm now wanting to know why Wilson hasnt yet resigned for supposedly leaking confidential information and not performing as the head of exploration, was reading in to strike resources they plan to prove up 300mt high grade Fe with 60,000m of drilling, so far Golden West has officaly drilled over 90,000, so where are the missing results michael? dont we only have 86mt???? also where is the 100mt we were promised? even though it should be closer to ~500mt by now....
However ultimately to fix this entire mess the feds do need to move in suspend both companies do a massive clean up appoint new interim boards and press charges against both of the current boards....
As for me i will be back on tuesday.......
GWR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
