no takeover by cqt a confirmed takeover offer that has been approved at todays GNL AGM. Now its over to ELL if they give the green light ( should do given ELL management will be runing the company) will be renamed hawthorn resources if all is good with the remaining votes.
As far as GNL chck the GNL threads going back 3 years , potential is there but up until joseph gutnick and co jumped off late last year ( u will remember him as diamond joe) gold man of the year in 1997 i believe. Is constantly in the news with his jewish charaties and donations and philanthropy work ( hope i spelt that right) anyway ELL will be running the new outfit and the market caps were very similar about 20m a piece so new company starts at 40m ( youre broker will be or should be bullish given GNL is the better of the two companies but a combination of both on equal inital value means neither shareholders are advantaged) all the tenetments have potential quite a few will have established JV partners ( ABU, newmont, JRV) and JMS is right next door at mt bevan. Which at 35m is probably a ideal next target once they bed this one down.
ELL
ellendale resources nl
