Sir $$$$$$$$$$,I echo your sentiment, I would be very surprised...

Sir $$$$$$$$$$,

I echo your sentiment, I would be very surprised if Portmans offer script in any likely takeover bid.They are cashed up and if they want GWR, I believe they'd just buy it out with a cash offer to GWR investors.

If GWR does have the motherload as has been rumoured so often in this forum, there will be a lot of rich Yanks laughing at us as they sit their counting their millions.

I suppose you could always buy shares in portmans and dilute your holdings in wiluna west by a few billion shares...

I saw FAS/GWR as a chance for all of us to make a nice profit while maintaining our substantial ownership of Wiluna West. Added to that the combined gold holdings and the possibility of oil discovery in Victoria, it would have been a nicely diversified company.

The biggest argument against the FAS takeover was the dilution, Can you imagine the dilution in a Portmans takeover?

GWR was always going to be too small to go it alone, sooner or later they had to merge with someone, had it been FAS, the reward from fast tracking the project would have more than compensated for the 30% or so dilution from accepting the offer.

The big mistake that FAS made was offering 5 for 1 at the start, had they opened at 6 for 1 or the current 7 for 1. I think they would have had it in the bag.

Heres to 20/20 hindsight

regards
Sir Incognito