I guess the flipside to selling GRY to TGZ at a perceived or...

I guess the flipside to selling GRY to TGZ at a perceived or real unvalued price is that:

(1) Shareholders get to choose whether they remain for the possible upside of the GRY projects, even in diluted form

(2) Shareholders can move on by selling shares on market and gain an immediate cash premium to what the market would have offered you a few days ago

(3) Remain invested and gain exposure to the TGZ assets at a discounted price to what the market valued them at, at the time the offer was made (i.e. via the premium offered for GRY shares)

(4) Hold your investment in what is now a reduced risk vehicle with a producing and cash flow positive mine supporting these development assets and an improved balance sheet

(5) Remain invested and anticipate that TGZ have the funds to bring forward additional drilling at Golden Hill, which could potentially be an analogue to Roxgold's high grade asset along strike.

(6) Remain invested for the optionality that someone else emerges to start a bidding war. Looking at the volume today (and previous days) it is more than just retail punters sniffing around for a possible arb.

Cheers
John