Around the Traps ... with THE FERRET 07:52, Thursday, 25 August...

Around the Traps ... with THE FERRET
07:52, Thursday, 25 August 2005

GIANTS REEF (GTM) has been brought to you this week by the letters R and E ... as in RE-construction and RE-positioning so it can RE-emerge as a focused explorer.(What, it wasn't focused before?). Paul on the email complains that the reconstruction announced
on Monday repositions the stock more for a de facto takeover.
He reckons there will be little support for the 1-for-34 consolidation and issue of 210 million shares at 10c because "we've been treated like mushrooms for months now", and allows someone to end up with enough shares to enforce a full takeover.
"A fire sale would return more to shareholders than this," he says.