I've posted this on UK BB's but it may be of interest or provoke...

I've posted this on UK BB's but it may be of interest or provoke discussion here. For the record I hold GGG, not AZX and I regard both as a long-term buy.


Been an interesting week with AZX BoD showing arrogant unprofessionalism yet again and GGG BoD seemingly rising above it. I've read some criticism of the GGG BoD as well but imo I cant really agree with it, they launched a TO bid, which under the circumstances of how AZX were and wanted to operate was justified. There is a 'rumour' going around that BS encouraged GGG to make the bid, but they have since back tracked. If true that has now left GGG in a difficult position and also shows Baker Steel in a very poor light. Other than the speculation that GGG launched the bid without sounding out the ii?'s (which is a ridiculous theory) GGG have generally stuck to the facts and behaved quite professionally.

The latest AZX release whereby the pretty much claim all credit for everything at B'ling and removed any reference to GGG or the JV is actually quite pathetic. It's like they are having a tantrum and still throwing their teddies out the cot, shockingly unprofessional imo.

In response and as a major AZX shareholder, GGG has interestingly and correctly asked some very relevant questions about AZX's knee jerk plans regarding, hiving off AZX grassroots stuff, funding and AIM listing intentions. I'm sure AZX are either going to ignore the request to come clean with their plans or are franticly trying to add some meat to a very thin bone.

I'm not too concerned about the GGG SP, been around just about long enough now not to get panicked into selling. Whatever happens with the TO, GGG still own 50% of what looks like a multi-million ounce gold mine. The question people should be asking is how many millions are they likely to produce. I think 5million and upwards is quite realistic with what we know already so my core shares are not for sale whatever the SP does.

As for the TO chances, well the extension was to be expected and I expect it will be extended into July at least, so we cant draw any conclusions from that. Question, if they fail to get 30% after July does anyone know if they can take what they have and buy AZX on the open market? Anyway other than BS apparently siding with AZX we are none the wiser regarding the others and the AZX PI's so it's by no means a done deal, plenty can happen between now and the end of the bid.

Roll on the Jorc, I'm sure it will be issued in Aussieland first and AZX will claim they did all the work and that the JV doesn't exist, well in their minds at least.

Temu