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Gymjunky

4,850 Posts.

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12/02/16

15:14

Post #: 17006556
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Originally posted by Croesus1 ↑

interesting .....

What percentage of the shares is required to vote down the bid? I think it is good to see a new entity in the auction assuming it is not acting in association with the bidder ..... which given there is no announcement of an association between the current bidder and the new substantial shareholder I would hope is the case..... if it is a hedge fund I doubt they would want to be managing these assets whilst trying to sell them individually but anything is a possibility I suppose. Normally old gold mines and exploration tenure is a hungry beast to feed with taxes and rental fees constantly pooring out of the owners pockets along with environmental worries and reporting requirements..... hence the incentive to get them into production or get rid of them is large.

If I were a hedge fund I would be tempted to get to the level required to block the bid. At the same time phone other gold companies to see if you can increase the price or ask the bidder to increase his bidding price. I dont know if the bidder is allowed to buy the vote on a block of shares or pay more for a particular block of shares than they pay the rest of us.

I guess since I dont have a huge asset base then I am probably wrong.

disclaimer; the above post is my opinion and is not to be considered advice in any way whatsoever. The above post has been submitted purely for entertainment purposes and in the spirit of the Hotcopper Forum where small shareholders get the opportunity to swap their thoughts about companies they have invested in. The post could be factually incorrect in a number of ways.

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This stinks the sold half of henty for 5mil worth of drilling i still can't get over this.
The low grades we have on site that they already know of what have been making money now even at 1200 or 1300 AUD to produce.This could kept the mine going then we could paying for drilling from our won cash cash in the bank.

UML Price at posting: 2.8¢ Sentiment: Buy Disclosure: Held
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time for a higher bid, page-2

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