I might be "over thinking" - just my nature to do so SBL.
However, does it not seem a little strange that this snippet of territory has been seemingly unconditionally "sold" independent of ALL the other assets. Also, why the rush to drill there when the stated plan for Les's "Great Southern Gold Project" was to put it on the back burner for a few years at least. Surely the obligation to spend money on the tenement is not that urgent that it could not have waited a while.
Why wouldn't it be just considered part of the total PRH assets that SLR were after. Can't see any reason why the ASX would not consider it part of all the aggregated assets and therfore needing shareholder approval for disposal.
If PRH had sold it to a third party to raise funds I would have less of a transperancy issue with that even though I doubt whether they could have disposed of any assets while the merger offer was at least on the table.
With respect to the second deal, I admit I am not 100% sure of any this but all the same worth considering the legality of the Munglinup deal with respect to ASX Section 10 Rules regarding disposal of company assets. (5% exception rule versus aggregation of assets)
PRH Price at posting:
1.7¢ Sentiment: Hold Disclosure: Held
