Am I missing something??, page-19

"The only reason your directors don't agree with the bid is they want to keep mining there directors fees ( my opinion again)"

With all due respect the independent expert report has concluded that the offer is "not fair and not reasonable". The director's fiduciary duties would not allow them to recommend the offer to the shareholders under this circumstance even if they wanted to. They are displaying proper corporate governance. What's more, reaching the reserve target of 1.2 million ozs (project equity 51%) will involve substantial additional expense on the part of GPR, all the while the value of the project will be increasing. GPR haven't even reached the 40% ($8 million spend) level yet, they are still only sitting at 5% equity. KGD just raised money in March and can continue to survive on small placements (to minimise dilution) while GPR continue to do the heavy lifting, as they should be doing under the terms of the JV.

I don't own shares in either company but I don't mind calling a spade a spade.

Eshmun