Thanks, that was a useful link to Blacktree's announcement. A few points though:
Pooling? Each current project gets allocated a proportion based on a current valuation... which valuation? If it's anything like Project Transform's then that valuation will rip investors off. I want to know the valuation first before making any decision.
Also, it states that early project monies can be used for later maintenance costs. Is that a GTP - like blank cheque? Spend as much as you like of harvest proceeds for future years? What if it's a Blacktree subsidiary that does the maintenance... could be just like another GTP tranferring money away from investors. And after investors have paid the costs Blacktree then take their 5%.
These are some ideas from Blacktree but there's an appalling lack of detail. On thing I've learned from GTP is to ask for details. The clearest detail is the cash offer up front but I want to know a dollar amount before deciding to even vote for them.
Also... how is Gunns more bank friendly? I haven't seen anything to indicate that but it keeps being said. I'm interested in finding out...
What are the new offers referred to?
Unless MN decide to delay the meeting date then this is still all going to happen soon whether new offers or anything else comes along. If MN wind up the projects by Christmas and sell it all off fast then people will be arguing over something that no longer exists.
My priority right now is to protect the projects from being wound up. If a better offer comes along after that then we can still change RE with a new vote and there'll be time to organise it. If the projects are gone then we can't.
GTP Price at posting:
12.0¢ Sentiment: None Disclosure: Not Held
