Tawnyport
They are not getting the 51% for free .. while there will now be dilution, giving GBE a total MC of $120 mill - the company will have $40 mill in the bank, which must come into calculation.
IMO this is an OK deal for GBE, its not great, but it's certainly not bad, and the scare tactic posts about ECE paying the money back to themselves & not developing the project are downright ridiculous ... almost scandalous.
In fact IMO the better deal for ECE would have been to make a FULL takeover bid at 60 cents, then up it to 70 cents, and make a final offer at 85 cents - which would be successful IMO. That way they get the whole company & dont have to carry the baggage of ASX investors!!
strategic partnership & a$41m fund raising, page-40
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Mkt cap ! $25.60M | |||
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