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2.6¢ gindalbie metals ltd

Sounds like they are getting ready to sell to Ansteel. Was...

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gmac55

983 Posts.

31/07/14

19:57

Post #: 13749873
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Originally posted by reddwarf ↑

As the major shareholder in GBG is Ansteel, also the majority owner of KML, would nopt any divestment of GBG's holding in KML have to go to a shareholder vote? And if a vote on a proposed divestment to Ansteel was to take place, then Ansteel, would surely have to abstain from casting it's GBG votes?

What is the motive for getting a valuation? Any valuation will be low given the plant is not operating to design at present and significant capital needs to be expended to fix the project. KML could be looking to proceed to stage 2 development. GBG couldn't fund it's share of development cost, but would benefit from a reduced holding in a larger operation producing to design.

If Ansteel was to takeover GBG's share of KML, the easiest option would be to take over GBG. GBG's major asset is probably KML, so independent directors would need an experts report on the value of KML before they could determine whether an offer for GBG was fair.

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Sounds like they are getting ready to sell to Ansteel. Was always the go. Ansteel was never our friend. They always only wanted the ore.

Considering the debt Kml has and Karrara is not operating at full capacity or likely too soon probably Gbg share worth FA.

LIke to hear Yachengs thoughts.

Cheers Gmac

GBG Price at posting: 5.8¢ Sentiment: None Disclosure: Held
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