Nrd, I already outlined before why I'm in for a fas merger. In the short term, if FAS succeed in the takeover with an 80% acceptance, then I stand to gain 93cents for every $2 unlisted option I have. If a cash component is also included in the final offer, I would also recover anything up to another 50% of my original investment. Add the two together and it means I'm sitting with 5 times as many shares, with a 100% investment refund. Explain to me what I've got to lose ? money back and retain the shares?
if GWR don't merge, my current investment gives me a paper profit of about 10% . with the dilution that was voted in, There's a good chance that that 10% may become even less if there's any further dilution.
Please note that these are my own personal reasons, they do not reflect on what may or may not be in the other shareholders interests. I'm not in the market for the long haul, my financial circumstances don't give me that luxury. If I could afford to sit on my investment for another 3 or 4 years, then my position on the merger might shift.
I believe that FAS have a lot more to offer than can be seen on the surface. With several good prospects in the pipeline for Gold, Zinc and Iron. any one of which could be the next big thing.if my information is correct They also have neighbouring tenaments, sections of railroad and maybe the right connections to get the ball rolling.
As to how I vote mr wedlock, It wouldn't be fair of me to make any assumptions on his ability. As he's only just got his seat on the board, I don't think he's acctually contributed anything to the company as yet, other than a high profile and a bit of publicity. One does wonder tho, why someone with his experience is no longer with BHP, but working for a backwater mining company that hasn't even got it's feet wet. Why did he leave BHP again? what other job offers has he had? what sort of salary is he on? There are so many variables that it's just too early to make a fair judgement.
As to Gary, I think he's sat on his hands doing nothing for too long. No feedback to shareholders for months on end. and then when he does finally decide to put us in the picture, he wastes millions of dollars on glossy colour brochures and postage, when a simple black and white letter would have been sufficient. My own opinion is that Gary is just trying to keep his own job, if GWR merge, then there's a pretty good chance, he wont be around for long. So has he got the best interests of the shareholders in mind, or has he got self preservation as his priority?
We can banter on indefinately over who's got what and speculate on which way it's going to go. but at the end of the day, the only thing any of us are interested in, is making a little money for ourselves. If we are all totally honest, none of us have much regard for how it affects the other shareholders, as long as it's in our own self interest. So why should Gary be any different?
I hope this reply gives you some satisfation as to my reasoning. Now it's your turn, tell me how GWR not merging is in your own interests. And how you're 100% satisfied with Gary's performance.
GWR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
