GCR 0.00% 0.3¢ golden cross resources ltd

Today I guess all GCR Shareholders received a letter from HQ...

  1. 4,579 Posts.
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    Today I guess all GCR Shareholders received a letter from HQ Mining.
    Maybe was sent by a slow boat from China as it is dated 23rd December and in the rush to get it to us, it arrives on 5th January.

    The letter contained NOTHING NEW with the same selective dates and figures in an attempt to tell us how generous an offer they have made, such as "The increase of the offer price to 8.25 cents represents an increase of almost 18% to the Original Offer Price of 7.0 cents and a 42% premium to the closing price of GCR shares on the day before HQ Mining's intention to make a takeover bid.

    The recent Independent Valuation and Target Statement make a mockery of the figures put out by HQ. Mining

    INDEPENDENT VALUATION:
    For instance one could easily say that the HQ Mining's offer falls ridiculously short of the low range value of 15.5 cents per GCR share - which is 90% below the Independent Valuation and 133% below the medium value and a whopping 196% below the high end Independent Valuation.

    There is only one outfit that can stop this opportunistic takeover from taking place and it had better be ready to face shareholders if it allows passage or it capitulates and fire sales one of its assets at a big loss just because it is a distraction?
 
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