Tiger, this is how these types of situations play out. The...

Tiger, this is how these types of situations play out. The buyers it seems are not mining guys it guys. My broker informed me at 4pm today that the guy behind the takeover for the TBA shell is a big Perth Player, named John Poynton, (see below history) from WA. I’ll have the other directors of of Goodsail Holdings Pty Ltd tomorrow. This information was from my broker who received an email from the receivers of TBA. The email, said the Deed of Company Arrangement (DOCA) terms were that the TBA shell has been seperated from the mining tenements and tenements have been packaged into a new pty ltd company to be sold seperately. Goodsail Holdings taking over TBA have paid the ASX fees to keep TBA as a listed ASX entity. Receivers have entered into an option for True North Copper Ltd ( an ASX company in Cloncurry) to purchase the two TBA owned tenements: Wynberg gold EPM’s for $2,000,000, also in Cloncurry. So the deal: Tombola Gold has around 1.2billion (1,200,000,000)shares on issue atm. That means all current shareholders ( as outlined by receivers)will be given 20% of those 1.2billion shares bring a total of around 240,000,000 shares. Below is what usually happens but this is my guess) More than likely there will be a shareholders meeting to approve a “ consolidation “ of all of the shares, probably on a 1 for 10 or a 1 for 20 reduction. Means: you will get; 1 share for every ten you hold or one new share for every 20 you hold.(don’t panic, there’s an upside)First divide the amount of shares you have by 5.Then divided that answer by 10 in case of 1 for 10 or divided by 20 if there is a consolidation is one of the above. Now this may not happen but it is common because the new owners have to raise cash once they take full control. I’m guessing, the new directors probably won’t want to start trading with 1.2b shares in the market. Upside: if the consolidation is 1 for 10 you will have less shares BUT the value of your shares may be 10 times of what they were before and 20 times if a 1 for 20. However, obviously the new owners will need capital so they will probably offer current shareholders a chance to subscribe. In addition more than likely the new directors will complete a placement with institutional groups. That will add more shares in Tombolo. Positives: my brokers has advised that the leader of the takeover pack is a big player with a track record monumental success, but not in mining. I looked on the internet and a story on “ Business News” describes John Poynton as one of Perths most prominent and successful investment bankers, philanthropist (which we need) and corporate advisors. He also co founded a company called Azure Capital. His past roles included the chairman of Atlinta, the Chairman of the ASX Perth as well as Chairman of Crown Resorts (Packers Companies) I looked up Alinta was a multi billion $ company. So maybe we may have just got kissed on the RS.I want to make clear. I am not an advisor. I do, however, know how the takeover games all work. Above is only my interpretation of what may happen. Make your own judgements and own investment decisions. I was just replying to Tiger/Tiger who asked a question. This is my reply to his question. If this transaction eventually comes to fruition and these new directors come on board it will be a bonus for TBA shareholders and a giant step forward from the whole recent naive knuckleheads team involved in the old Tombola Gold. Reboot reborn