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28.5¢ dacian gold limited

Imagine that if the no wins, what will happen ? GENESIS...

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Jeanlucecuyer

314 Posts.

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30/07/22

22:32

Post #: 62833536
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Originally posted by timbin4: ↑

Well that is interesting. Thanks for highlighting! I’ve not seen this type of TO before.
It took me some digging as you need to read the detail in the ‘bidders statement’ 11.3 & 11.4 to find out ‘how to accept the offer’.
So basically yeah, if you hold DCN shares just don’t sell them and that is your way to reject the offer…. And if you really want to reject it…. Buy more DCN shares!!

This TO approach they have taken gives me at least a little bit of confidence that it will fail. As by nature humans are lazy, for us to do something we want to know ‘whats in it for me’. It took me 10mins of reading to even understand how this particular TO process works and even then I would have to log into my share registry account to accept it…. Who does that? No one logs into that anymore, those emails or letters in the post are just noise, we just use our online brokers. So for me to take some action I need a very compelling case…. and The GMD offer is anything but. I’m surprised they have gone down this TO route, I reckon they would have had more chance with a vote (as most people can’t be arsed voting).
Right now it would be extremely interesting to know who our top 20holders are (and if they still are)…. As no doubt GMD are right in their ear at present saying DCN is worthless without our first rate management team.
It’s true that DCN is currently rudderless (as our board is useless) but we still have a fully functional plant (worth a lot more than GMDs offer).
So I say hold onto your shares at least until GMD improves their offer.
The offer is currently .0843 GMD shares for each DCN. If they upped it to .15 GMD shares for each DCN share that is at least near to NTA value being returned for our existing plant and gives some hope for DCN holders to make our current paper losses back from an improving PM sector.

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Imagine that if the no wins, what will happen ?

GENESIS withdraws its offer and DACIAN continues on the momentum of RW, LJ and DR, that is to say bankruptcy in the short term...!

And at that moment, GENESIS buys DACIAN's corpse at auction for peanuts ! Or does anyone have another realistic solution so that the shareholders of DACIAN are not too cheated ?

DCN Price at posting: 11.5¢ Sentiment: Sell Disclosure: Not Held
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Imagine that if the no wins, what will happen ? GENESIS...

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