watso is a bit confused as to what the exact terms of the sale...

watso is a bit confused as to what the exact terms of the sale of the gda equity in mt caudan is being determined. it seems that there gda are saying one thing, and caz another thing - but there might be a logical explanation somewhere

ok - somewhere, watso has noticed that caz can issue gda, shares in caz at the VOLUME WEIGHTED AVERAGE over the PAST 10 DAYS' in settlement. Settlement is due in early september.

will gda get the cash, or shares in caz???????

the 15% (or 20%) of mt caudan, was the best asset that gda had. if one looks closely at watso's comments on the mt caudan iron ore project, over the past 18 months - then one would notice, that he was not all that impressed at first, but then started to comment that the best way into mt caudan was through caz. a 15% equity might not seem all that much, but if the price of the iron ore is ok, then 15% of 2mt per annum, is still a good income

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