RE: Cornerstone CANCELS Arrangement6 Sep 2018 08:21
it's interesting, isn't it?
There's a possibility CGP have been dragging their heals on the spinoff know this thing with BHP was underway. Now that it's a done deal, CGP stop the spinoff in the hope (knowledge) a full buyout offer is coming.
Meanwhile, ol' Nick has known about this possibility all along and so has been frantically drilling to get to a stage where a feasibility study can be produced that forces CGP to cough up their share of the costs, or be diluted down to a nominal amount or otherwise bought out (I seem to recall a figure of $3m, but I could be making it up).
Either way, regardless of the shenanigans in canada, BHP's interest is potentially fantastic news for the share price. Everybody is talking about solg again, and the prospect of a bidding war for the property/company could do wonders for our shareholders.
A steady stream of good drill cores, and other news will keep the momentum going, and if BHP or CGP breathe a whisper about further stakeholding increases, the game may truly be on.
Exciting times. Again.