Ann: RECOMMENDED CASH OFFER BY HANKING FOR PRIMARY GOLD, page-133

My take on this scenario to all you arm chair experts- there has been delays which has pushed the stock price down due to share holders selling, toll treatment at Coolgardie didn't get signed up but apparently it was imanent and it's highly likely they would of needed a capital raise of three million which is 100 million shares of dilution to share holders at say a discounted 3 cents then there is the Ausdrill $3 million facility so then at this price or less there would of been another 100 million shares issued as dilution and that's not to know if there was any shares in the deal with toll treatment with Westgold. Coolgardie has no mill or money and in the NT we have a good asset with no approvals due to government delays ,and Toms Gully needing 25 million to start up- is that more capital raise or debt ? The bigger picture is another $150 million for Rustlers Roost again how much dilution to start all these up. So we have good assets no cash, falling share price ,no support from share holder, stock brokers or the government. Now we have share holders selling down for the last 12 months plus the last few days have seen selling at a discount to the offer on the table which sets the market price . The market is what it is .
The best out come in my opinion is that an ASX listed gold company takes us over where current share holders stay in the game and continue with the gold story but what ever happens the market is what the market is. Right now the market says we are 5.1c with a offer at 5.75c How many whingers on this forum bought shares at 3.6c and 5.1 when they had the chance? If the current offer on the table is wrong the market will correct it with counter bids if it is too low of a offer as Mills has said.
For your conspiracy theories out there who must think these directors sit in the offices thinking this up ... But with a market value of less than 4c before this offer then the company and directors where on a flogging to nowhere regardless of what you think the stock price should be. New directors on the board 2 years ago inherited a company with a market cap of $2 million and increased the value to what it is today. At the end of the day the share holder, banks, brokers didn't support whilst every one was pushing the share price down I'm sure the directors laboured over this decision however the market is the market no matter what you want it to be as indicated today by the share price being 20% less than the offer. Directors have a duty to work for all shares holders I'm sure Garry and Tony being in the top ten had a lot of skin in the game with much more to loose including being the MD and alot more than anyone on this forum.
Now my advice to you is take a chill pill and relax and I am very sure there is a lot of work going on in the back ground to get us a better deal. I'm sure Garry and Tony didn't want to be placed in this position before their vision was fullfilled now it is what it is and we need to see the process through. I would of been happy with a dollar but you the market values it at 5.1c