re: Ann: GUF: Guildford Increases Stake in th...
Initial reaction is dissapointment at the size of the upfront payment.
I dont also get how GUF say that this will help them "fast track" development of the project. As a 20% holder, CAP were along for the ride so to speak and CAP had already agreed to pay our 20% of the exploration costs, see CAP announcement 22nd Feb 2011.
Quote from GUF ann: "MrCraig Ransley Non-Executive Chairman of Guildford stated that ?This transaction enables Guildford to more rapidly advance the Hughenden Project given its access to substantial funding".
Does this mean that CAP was having issues coming up its 20% share?
IMO, agree with FGB. Take Hugheden out of CAP and more emphasis shift to Hawsons. Now, we need to know what is happening with BMG.....
I wonder how Mr Bin Cai(Conglin Yue's man on the board) voted on this?
Volume slightly up but buyers are not flocking to the stock.
CAP Price at posting:
26.7¢ Sentiment: LT Buy Disclosure: Held
