true value of gbg, page-12

It was meant to be more humourous than cynical actually.

The fact remains that some latecomers (more than one) onto the SDL register were given a fantastic opportunity to own GBG shares at a massive discount to what they were trading at and what GBG's assets were really worth.

The larger GBG shareholders were not impressed by the deal and the merger was called off in the end with the independant expert scratching his head as to how they managed to value SDL's assets at twice that of GBG's when SDL had still not proved up a resource.

I'm not claiming that SDL won't eventually have substantial resources, but when they do prove up something then they may have something to bargain with but I hope GBG turns their focus to local producers in the meantime.

Just ponder this Flick, if GJ and other large shareholders were not on the SDL board, would GJ, acting in his role as the Chairman of GBG, have considered the merger under the same terms whereby GBG ended up with only a third of the merged entity?

I doubt it very, very, much.