Hi germainst and mick49,
thanks for your great perceptive replies, whilst reading them this morning I just combined elements of
both your considered opinions and came up with this:
Shares currently trading at 0.9c
Shares outstanding 920.2m
Top 2 shareholder groups Management 13.8% or 126.99m shares and Holdrey Holdings 4.29% or 39.48m shares.
Together 18.09% or 166.47m shares.
THUS - for $1.5m at 0.9c ANYONE could become GTE's top shareholder and redirect the co. as it wishes.
$1.5m at 0.9c gives 166.666m shares
Now other happenings:
ASX June 9 2017 SFR pays GTE $500k in SFR shares for JV in Yerrida North and then to spend $1.7m over a two year period looking for copper.
ASX SFR June 6 2018 pays Talisman Springfield $72m cash for their JV interests.
SFR could if it so wished then by spending less than $1.7m in its obligated JV with GTE, become its major shareholder, and with its massively larger size - in effect take it over. It would then gain access to GTE's other leases/tenements - and if Yandal West had any commercial gold - it would be a bonus to SFR. Hence making its GTE takeover, cost free. Becoming GTE's biggest shareholder may save SFR money.
Any SFR analysts reading this ? Or anyone else with a spare $1.5m ?
BOTTOM LINE - what would we as shareholders of GTE get out of this ?
Probably SFR shares
What a thought, hey
Cheers
Bluequartz
GTE Price at posting:
0.9¢ Sentiment: Hold Disclosure: Held
