The news at 1.08pm,which is significantly different from that...

The news at 1.08pm,which is significantly different from that which was posted on the asx earlier today 11am..........

It will be worth a read of the Regatta prospectus to see the different % shared in the regatta float with Gondwana and Crusader (CAS), without Polaris involved, as Polaris is predominately pursuing iron ore not gold.

I can't see what Crusader brings to the table though? they have good tennements in Brazil and Uranium tenements in W.A. but there is no mention in the news release about what tennements etc are shared in the float .(see the third quarter CAS report).

Gondwana must have been planning to float Regatta without Polaris for a while as the news states the prospectus will be avail mid june ( which is about a week away). Prospectuses aren't assembled in a few weeks so I suspect it is a pre meditated strategic move......and add in the current GDA drilling results due about then, I can only summize that it is planned to come out together (prospectus and drilling results) and be pretty significant. Time will tell. The current sp is a huge discount to what it could turn out to be.



The 1.08pm news........(last half of the news)
.........As the expiry date for the agreement with Polaris has now passed and no extension has
been agreed, Polaris will no longer be a party to the merger of tenement interests and the
float of Regatta.
The remaining vendors involved in the proposed transaction, including Crusader Holdings
NL (“Crusader”), continue to participate in the Regatta IPO and it is anticipated that
Regatta will be in a position to lodge its Prospectus by mid-June.
Shareholders of Gondwana will be advised when the Prospectus is issued and
shareholders will at that time be advised of their right, along with the shareholders of
Crusader, to subscribe for Regatta shares in priority to all other investors.
For further information, please contact Warren Beckwith on phone (08) 9388 9961 or 0419
838 839, or send an email to [email protected]