I'd be shocked if they paid more than $150m (10cents per share)....

I'd be shocked if they paid more than $150m (10cents per share).

This was a dog when I exited and still is. Average price I exited was around 0.15 or so I think. Cannot remember to be honest. Should have sold the last lot at 0.19cents but emotions kicked in and I didn't offload all at that point. I've followed the quarterly reports ever since though.

Gmac is right, management were paid an absolute fortune for this.... If I recall correctly the MD/CEO were on about a million a year? Tim is off at WSA now etc etc.

I pretty much stick to the blue chips now for long terms and do CFDs. Has worked much better. I'm done with investing 100ks into mid cap mining stocks where most of your money just goes south and the only winners are management with $500k-$1million salaries. Lost a little on MML (lost a small $5k though) today in saying that, but overall came out with a handsome profit from trading it.

The mining boom........... More like a bust now. The majority of these hot ex billion dollar companies are now dust or mere minnows of what they once were.

Never get emotional on an investment. A lot of GBG long term shareholders can tell you that... Just because they spent $3billion plus doesn't make the mine valuable. It continues to lose money/cash... The biggest losers to date is actually Ansteel, will be interesting to see the write down.... They may not make an offer and its simply a massive writedown.

MGX, AGO etc etc....... Are not going so well either. You can buy these at GFC prices and for good reason. BHP, RIO & Vale are flooding the market.

Goodluck... But this stock has seen all equity investors lose more than $500,000,000.00 CASH who took up those rights issues and share placements. Myself included.