AGM 0.00% $2.12 australian governance & ethical index fund

zfx acquires major stake in gullewa

  1. 1,043 Posts.
    Allegiance owns 30% in Gullewa.
    Gullewa owns 12.8 million Allegiance shares. This means $14 million cash comng through the door to Gullewa. With 120 million shares on offer it equates to 11.5c per share.

    Current SP of Gullewa is 7.5c.

    Zinifex will end up owning 30% of this mob. Hopefully they can engineer things to liquidate them. It would be a nice earn.

    The other possibility is that the beards start again with a listed company and a few million to go on the punt with either new projects or on the market.

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