All abutting each other are CLiffs, Fairstar Resources, and Classic minerals and a few others.
Classic Haven't listed yet, but I believe they have close ties with FAS and GWR.
Either way, they're all Iron ore explorers or producers.
Cliffs moved their exploration headquarters in the southern hemisphere to Perth and are expected to make further acquisitions as their Reserves at Koolyanknobbing west of Kalgoorlie are running out.
They took about a 18% stake in GWR and tried to throw out the board but failed.
So let me see
Cliffs own about 18% of GWR FAS owns almost 19 % of GWR Another tennement right in the middle of this is owned by a company that has the same address as a director of GWR. and all these tennements are right next to Desert resources' tenenment at Mt Padbury which is a fully owned Subsidiary of GPN soon to be renamed Padbury mining Limited.
Now there is a suburb in Perth called Padbury and there is also a Mountain Called Padbury in the Midwest. The area around Mt Padbury where all these tenements are are coved in BIF Banded Iron formations, but is also know to have uranium.
Anyway, I'm predicting some sort of consolidation in the area and it looks like to me IMO that a few of the companies in the area could all be singing from the same Hymn book. So my punt is to get in on a next door neighbour at bargain placement prices and sit and wait.
Option issue that will be voted on tomorrow is an interesting one. Options a re commonly used as a takeover defence strategy. Not saying for a second that is what is happening now, but perhaps the management of GPN are thinking about what happens if/when they develop some sort of resource at Mt Padbury and are just building the defences now rather than when the first boms are falling.
Just a little rant for the night.
I hope you enjoyed it.
ps All info is freely available on Tengraph, hot frog and from the ASX company announcements.
GPN Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
