umm..., page-5

GGB - ASX price 40c - gbpaud @ 1.5155 = 26.5p
GGG - UK price 32p - gbpaid = 48c

local price trading at discount of 18% to its main listing

shares o/s 165m after raise of $8m, cash now apprx $28m

mkt cap using uk price - $80m

bid value for AZX 7 for 5 - using last nights close that equals 67c equivalent for Auzex

my feeling is this bid looks dead in light of Baker steel turning it down.

What does make sense is a merger, which is what they should have done in the first place. Tell the corporate financers to take a hike and swallow the egos and get a deal done.