Ok, guys here a short recap of what I talked about with Avi last week. The reason for not earlier is that he indicated to update us this week which hasn't happened so far. Left a message on the phone but no response yet.
So, I will update you.
1. He did not guarantee but said the oppies will be in the money before conversion time, no underwriting needed as it would be very lucrative to convert by holders.
2. They knocked back some offers for a HW partnership as reported, the offers were not appropriate. They are in talks with those who made reasonable offers but as nothing is in writing on the table yet, the ASX " warned " him not to report the offers ". No parties mentioned.
3. Asset sales talks on its way to be finalised - not specified what time frame but plenty of interest.
4. Gypsum progressing - that what he wanted to update us this week - but paper work forced delays.
5.No legal challenge to amend the JV by Public Domian, agreement is bullet proof, they know each other very well and get along very well.
6. They will fulfill the JV requirements, no extra funds needed to get to 51%.
During the call I sensed that he really wants to extract max value for himself and us. He said that nearology play has to be negotiated differently compared to NVA. I told him holders a frustrated and expect more detailed updates in shorter terms than quarterlies. He agreed to consider that.
So, in the end we have to wait and trust. I was upbeat last week but did not buy any more shares as I wanted to see the update first. A bit disappointed at this stage, but maybe next week we get one.
If he told the truth, sp will go up a lot. Now it is his job to report about real action.
GLTA
CHK Price at posting:
1.1¢ Sentiment: Buy Disclosure: Held
