focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
'AIM Rule 11 requires notification without delay of any new developments which are not public knowledge which, if made public, would cause a significant movement in its share price. The Guidance Notes in part 2 of the AIM Rules make clear that this means information a reasonable investor would be likely to use as part of an investment decision'. This is a shocker - we all know there is loads of info that is being withheld from the market, well PI's. The net effect being we can't make an informed investment decision!
This is good news. As a long term sufferer (erm holder), its a much better outcome than the alternative - BOD sit on hands, spend rest of the bank balance on nice lunches and golf, then delist and retire to their super yachts! This gives us hope and opportunity, and although I'm a little concerned that share in issue may end up being 6 1/2 bn we can worry about when we find the black stuff. No more dusters please!
Fundamentally the reason why you have such low support for this bid is two fold. 1. The bid doesn't represent fair value against upside potential and 2. The spin that is being given on this is all about how Norton have the skills and capability to bring the mine online etc. That's of no use to current holders who are just going to be bought out. Why do we care about what a great job Norton will do if we are no longer going to be part of the company.....! This would get more traction if the bid was either much, much better or a share swap of sorts was on offer. I like this company, have done since GGG and think that Norton should just jog on by. GLA
Just won't go away! Their offer is still under fair value based on the independent valuation that BGL has recently commissioned. I'm going to vote 'no' by not doing anything! Roll on maiden reserve declaration is what i say. All IMO of course and DYOR. Good luck.
Pdf copy: http://www.asx.com.au/asxpdf/20140527/pdf/42pw0n3my4jqv8.pdf
That's correct. Do nothing to reject the offer.
Every BOD says it, but I really have got the impression over the years I've been invested here that BGL are all about shareholder value. This offer is not delivering that and surely must be refused. The current broker target is at least 17p and this offer is way, way behind this. It's also interesting that from what I've read Norton are just offering cash for shares with no mention of a share swap or the like. Bullabulling is such a big opportunity, there must be others that would be interested. Personally I'm going to vote against this takeover (for what it's worth) as I just can't see why they would sell out before completing the DFS and declaring actual gold resources available from the mine, which up until now a least, has been very promising indeed. Good luck to you all.
On this take over offer. I've been with this company since it was central china goldfields and think that the gold resource they have at Bullabulling is a huge opportunity. They are currently due to complete their definitive feasibility study by the end of this year with a view to declaring an official level of gold available at this time. I believe this will see the mine become one of, if not the most promising mines in Australia. Everyone knows that they don't have enough cash to build the plant infrastructure on their own, but IMO there won't be a shortage of co's they could either sell out to or do a placing with closer to the DFS being released. Once they have declared an official resource a decent bidding war can take place. This is a clever play by Norton as they are trying to get in early to cut out any chance of others being in the mix. DYOR & GL!
Catchy monkey. At least we are heading in the right direction. Such a great opportunity!