It all depends on your point of view I suppose. There seems...

It all depends on your point of view I suppose. There seems little point in GGG getting shirty about release of information from a JV partner if it really is the JV partner who is doing all the work and they are under a hostile T/O, which seems to be what AZX are now saying. Although if it is true that they are running the project completely then it seems unlikely that they would have waited until now to say it and show it. Has there been some change of technical management recently perhaps?
The AZX roadshow document said that the AZX technical team would not stay in the case of a GGG T/O. This must be very disturbing news for GGG and all shareholders should urgently ask how they intend to operate a West Australian asset in the current climate. As far as I understand, it is very difficult for even local experienced operators to get and maintain the required staff.
As an AZX SH I'm very keen to see the other assets hived off. They certainly wont get the attention they deserve while Bullabulling is monopolising the focus. I too would like more information on the mechanism, but will fully support it happening somehow.
I am staying in because I am sure that both will come to their senses and talk sensibly and the SP will reflect it. Whenever they announce something civil it should re-rate quickly.
As for the T/O, maybe an extension was to be expected, but since they have to notify the ASX of every % they get in acceptances during a T/O, and I have not seen anything posted, perhaps they have yet to get any at all? Although I would have thought that unlikely, it must be true so far. As for buying on the open market, well, I?m all for that. It is one sure and certain way to get the AZX SP to run. Mind you if they have the cash, it would probably be cheaper to offer it into the mix.
Unless GGG come up with something much more persuasive (like adding a cash component and getting a good premium back in) I would say there is almost no chance of anyone taking the offer now. The extension will just add to the uncertainty and delays.