very last post on a gift horse(promise), page-5

Its a done deal. Only an idiot would not want to put the two companies together and the only thing standing in the way is the boards ego. I have no problem with them holding out for a higher price but if it ends up going hostile its bad for shareholders of both companies. As a holder of both, I support the merger of the two and will be voting my AZX stock for it.

GGG is a screaming buy now that it has gone to a discount in EV valuation to the AZX share price - the gold price is up 50 dollars in a couple of weeks and it has gone backwards. I think GGG is going to be 50p plus in a matter of months and this AZX merger will go through. GGG lists on the ASX in a matter of days which means AZX holders will get rollover relief which in my view is the only rational obstacle to the merger. After that the board is the problem (and they only have a minority position in the stock).

If shareholders vote for the merger and it gets done the combined valuation of the enterprise value of the project should be in excess of $250m like its market peer group. 4moz resource potential just got taken out in canada for $125/oz (Richfield Minerals RVC) and I think this could achieve the same thing. Having 50% of a project like this is baloney, both sets of management need to get this resolved and put it together.

Good luck to the holders.