The wording of the announcement is interesting. Implies that it is a) not hostile and b) a foregone conclusion. There is no mention of words like 'proposed' or 'potential'. My money would be on either a scheme of arrangement, or a 50+% placement - which doesn't make too much sense as limited cash is needed for Coolgardie, and significantly more than 20-30m is required for the big project.
The obvious collaboration is Shandong gold acquiring PGO for throughput through FML's 3MH mill. Shandong being domiciled outside of Australia would explain the lack of trading halt anywhere else today. It would also explain the delay in FML's PFS and to an extent the delay in PGO getting up and running.
Interesting times.
The wording of the announcement is interesting. Implies that it...
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