No longer a holder but following the developments nonetheless.....

No longer a holder but following the developments nonetheless..

I suspect the intent to mine at Coolgardie was always there but if you don't have a plant and can't get (or are prevented from getting) a toll treatment deal together then what can you do? It may be that some unscrupulous top 20 shareholder has been suppressing the SP for the past 12 months or so for their own purposes (lowball take-over ploy or whatever): that may be immoral but is it illegal?

Another thing: the ASX hasn't been a good bourse for the purpose of raising sufficient cash to build a plant (and tails dam with all the approvals they would entail) and go mining at Coolgardie and, at around 4c where's the incentive to dilute the sharebase further?

Add into this the difficulty of doing business in the NT and it's easy to see why the market has valued this Co as low as it has. If Hanking are successful I doubt they'll do much with it other than wait for the gold price to spike and move it on at a tidy profit... I wouldn't be surprised if a local rival in/near Coolgardie come back with a counter offer as, to a local producer it should be a very attractive proposition...