Major, where did you get your figures for GBG's shares on issue? The quarterly should tell investors of all the shares listed on the ASX and unlisted options etc.
Currently:
513,978,850 on market
and
16,950,000 employee options which are not yet exercised. Close to half of these options have already vested and by memory most belong to GJ to GD.
TOTAL = 530,928,850 shares assuming all options are exercised (I have no doubts they will be given the exercise prices).
Ansteel are to get 190,658,824 shares.
TOTAL SHARES for GBG = 721,587,674
Big difference in our calculations, please correct me if I am wrong as I'm crunching a lot of new figures in GBG spreadsheets.
GBG's future SP is affected significantly, however the probability of reaching 35mtpa is much more realistic.
Anyone who got in below 60cents has got a bargain. However I can't beleive we were trading below Ansteel's initial placement in the first place. I thought support would have been huge but we crushed it in a few days. Now we are "paying" for Australians valuing magnetite as worthless. Well done!! I was shocked to see cashless penny dreads like FMS maintain significant % above cash backings yet GBG valued as nothing.
Goodluck all, enough ramblings for me tonight.
GBG Price at posting:
40.4¢ Sentiment: Buy Disclosure: Held
