Originally Posted by
mistaTea
If OGOG and Dick Tweedie are right, and Ironbark is just a pure gamble with incredibly low odds of success...
Then the current NZOG and Cue CEO's have a lot to answer for in my mind. They have certainly not tempered their effusive comments about the prospect with a healthy dose of caution (i.e. yes it could be huge, but we are 95% confident it will come to nothing...).
The only way the change of heart makes sense is that it helps OGOG pick off the remaining 30% for a song.
The current offer values the whole business at $121M. When you deduct the $76M cash attributable to NZOG directly, that leaves $45M.
So according to Dick and his mates at NZOG and OGOG, the entire going concern plus exploration permits is only worth $45M.
Our share of Cue alone is worth almost that.
Despicable, absolutely despicable.