Prior to CGE deal, IRH had 69.86 million shares.Aquisition is...

Prior to CGE deal, IRH had 69.86 million shares.

Aquisition is costing 300 million shares.

Total shares will be 369,860,000 shares.

CGE would own 81.1% of IRH. REVERSE TAKEOVER!!!!

At, say, 5c per share, CGE is worth $15 million. Prior to ANN, shares were about 1.5c valuing CGE at $4.5 million.

Altera Resources Ltd (AEA) offered 135m of their shares at 7.5c valuing CGE at $10.125m. That announcement pushed AEA share price to 20c. Then they pulled out of deal two months later.

This is a move to save money because now CGE becomes public without incurring IPO costs.

Directors of IRH must surely believe that 19% of CGE is better than 100% of IRH. Pity info on CGE is difficult to find.

What does everyone think now?????????