I'm like you, I've been through the latest AGO presentation and their stated timelines are identical to those put out recently by AJM.
- Both coys are targeting Board approvals this month - First run of mine production is targeted for Dec 2013 Qtr
From here the possible outcomes are pretty obvious
Outcome 1 - we do a deal and proceed to production Outcome 2 - we do a deal and sell out to AGO Outcome 3 - we agree to disagree and time marches on
I'd be hopeful that neither side would accept an option 3 outcome as it does zero to add value to either coy's shareholders. I'm sure that there is plenty of commercial sense around the table on this. AGO have the cash on hand to fund all capex OR buy us out.
The current and recent selling has been fairly patchy and I am looking forward to finalisation of our Mt Webber position over the next fortnight.
GLTA
Gemboy
AJM Price at posting:
9.0¢ Sentiment: Buy Disclosure: Held
