I'm out, sold most some time back and accepted the offer for the...

I'm out, sold most some time back and accepted the offer for the balance. It now looks like premature capitulation from the board to recommend the offer imo. WHC is already trading above GCL's $7 at the conversion ratio.

They're already at over 80%. I don't know what they'll do but I would guess they'll extend the offer. If they remain listed it will keep all the associated reporting and other liabilities. It would be better for them to get the whole thing. This way they could easily sell to someone else later privately. I'm sure they'll make money on it.

Although they'll probably extend the offer, I'd suggest taking it up because upside for shareholders is now very unlikely. I liked this little company so I'm a bit sad about it actually. Another loss for Australia.