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15/11/17
20:53
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Originally posted by croasian
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The whole idea that a company should "defend" from takeovers rather than meet their fiduciary duty and embrace them is crazy. Having said that I agree with your assessment.
Dawney made a lot of noise without substance but the directors can't have enjoyed that.
The rights issue seems attractive to me, I will apply for the full 30,000 shares and as I only hold 65,000 shares expect to increase my holdings slightly as a result. So I am as happy as Larry.
Is this enough funding for them to develop Waitsia themselves, that would seem like a good outcome. Then they could develop AAL when the price of oil blasts back up to $100.
Could be quite impressive for long term holders.
GLTA
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$48m won’t even pay for the $200m abandonment liabilities on AWE’s books. Let alone develop Waitsia. At least three more capital raisings to go before AWE heads home.