GGY 2.41% 8.1¢ glengarry resources limited

kagara feared strategies and tactics

  1. 639 Posts.
    KZL bought their way into GGY and now own a substantial 20%.
    At first most of us were pleased with the arrival of this weighty shareholder, who was thought to be a likely help when it came down to develping GGY's assets.
    What a drag this turns out to be. All KZL is apparently interested in is aquiring a GGY crown jewel. Chances are they sell off there GGY holdings after they got what they want.
    I say no to this sale. GGY does not really need this money, because there are ample funds to execute its exploration program and this particular asset is only likely to rise in price over time.
    Plus there is a far better way where both parties get what they are after and shareholders of both GGY and KZL fare for the better.
    If KZL were to aquire the whole of GGY by means of a share swop, and I leave it to the experts of what a reasonable rate of exchange would be, I am however thinking of something equivalent to a GGY SP of around 12-15 cts then GGY shareholders find themselves into a good producing company, KZL can keep its money in the bank, our man James could find himself on the board. In short: Everybody happy.
    Meanwhile I am a bit surprised no one else has come up with this what I call scenario atractivus. Rgds.
 
watchlist Created with Sketch. Add GGY (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.