so what does it all mean, page-82

Pete, mate no offence but sometimes it is better to think more and post less.

Total listed shares - 623M
Total options - 70M (includes unlisted)
Total 693M fully diluted

Genorah hold 376M shares of which 250M were issued for Tubatse (3 farms). If all Tubatse shares are withdrawn (the second case is imo less chance of winning now, as mining rights were awarded to a BEE entity, who did not register them with the DMR and Genorah swooped in) this would leave Genorah with 126M of a total of 443M fully diluted.

This is in excess of 28%, which is more than the legal requirement of the BEE to hold 26%.


My personal expectation is that the 250M shares will be redistributed amongst the three BEE entities. I have long been of the opinion that X would wait until all properties rights are confirmed before launching a TO.

It seems to be forgotten now that Stagman and Macleod led the information on court proceedings and the few in support were up against some very dimissive and even agressive opposition on this forum. (Are you really a holder? lol)

It will be intersting to see if Julius Malema is involved with the secretive Genorah via the Blue Nightingale Trading groups. I recall a link to an article on JM posted some time back received a thorough dressing down with 30 odd thumbs up for the dressing down.