Red Devil2, the only interest I have in the scheme of...

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reddwarf

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17/03/19

21:07

Post #: 37791133
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Originally posted by red devil2: ↑

Just my opinion,maybe I should explain myself better?1)record date 11/3/2019, (bidder agang group ANSTEEL) v target(gindalbie metals) first court documents approvals seem to be in place,The target advises the bidder that $23.1 million has been placed in a trust and the bidder then places an equal amount in the trust .Base/bear case scenario/deal to our company of $42.2 million, out of that at a release from the trust monies will be paid to bidder agrees to sell its entire stake of target at an agreed price off .016 cents. The asx seems to allow the carry of codan minerals ltd to then be the company name to replace the targets name after the courts process has finished as part of the deal.The trust monies is then released to codan minerals ltd and the share registry then releases the shares?The question we should ask is how many codan shares are equal to our current share holdings? Remember keith jones is a deal maker, and I am sure he will add the most value possible to us the share holders? Also maybe the shareholder meeting for approval is only the last hurdle, for the court processes. But then the crazy kicker is that ansteel agrees to pay $1,6 million after listing in new shares of codan minerals ltd lol?
Lastly from me, there will be further events, this is only a bear/base value scenario on the current deal during the courts process of the deal?The bidder pays all costs, I think, not sure?

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Red Devil2, the only interest I have in the scheme of arrangement is seeing it defeated as as far as I am concerned, it delivers no long term value to existing no Ansteel shareholders, rather it delivers them a dud that is insufficiently capitalised.

GBG Price at posting: 2.7¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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Red Devil2, the only interest I have in the scheme of...

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