Share Name Share Symbol Market Type Share ISIN Share Description
Ggg Resources LSE:GGG London Ordinary Share GB00B4KDJB03 ORD 2P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 25.875 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining -0.69 -0.01 43
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 25.875 GBX

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shakeypremis: Hey Shavian GGG came across my radar earlier in the week and it instantly caught my attention. The The resource is absolutely huge. Rare Earths and uranium too. Two sectors with a lot of future potential. Even a boat load of zinc too.
shavian: Obviously not. Folks missing a trick here on a recovery in uranium stocks and renewed interest in REE and Greenland's increasing accessibility and more mining-friendly government. GGG starting to recover nicely.
hiddendepths: carl (sorry, I owed you an answer!) and jaws - that was the cash balancing mechanism at work. In essence, the two companies are merging as equal partners. BUT GGG had a pile of cash while AZX didn't. In order that they put equal amounts of cash into BBG, GGG agreed to buy new shares in AZX with the cash going to AZX so that the cash amounts balanced. This is the purchase (at a price set over the previous 5 days less 10%) to equate the cash positions. The issue for the last week is what price GGG would pay for the new AZX shares. It was in the interests of Auzex for their share price to be as high as possible for that five day period so that GGG's cash would buy fewer shares, leaving them with a smaller percentage of AZX and thus a smaller interest in the asset. So the surge in GGG, which was probably having a knock-on effect on the AZX price was actually damaging GGG shareholders' interests! The end result is that GGG owns 18% of AZX and this means that GGG holders will end up with 59% of the asset while AZX holders (other than GGG) get 41%.
bhoddhisattva: Just received this: GGG Resources PLC Scheme Consideration-0.909 Bullabulling Gold Share RNS Number : 4203Z GGG Resources PLC 15 March 2012 GGG Resources plc ("GGG" or the "Company") Scheme consideration - 0.909 Bullabulling Gold Shares for 1 Auzex Share GGG Resources plc advises that the Cash Balancing ratio has been set at 0.909 Bullabulling Gold Share for every Auzex Share. The Cash Balancing amount (being the amount of cash required to be subscribed by GGG to Auzex to ensure that the Net Cash Assets of GGG and Auzex are equal on the Effective Date) has been set at $4.7 million. Accordingly, under the Cash Balancing Adjustment, GGG will subscribe for 18,540,434 Auzex Shares at an issue price of $0.2535 (25.35 cents) (being a discount of 10% to the 5 day Volume Weighted Average Price ("VWAP") ending 14 March 2012 of Auzex Shares on ASX). The subscription is conditional on the Australian Scheme being approved and becoming Effective and will occur after the Effective Date and before the Record Date. It is currently expected to occur on 29 March 2012. Following the issue of new Auzex Shares to GGG as part of the Cash Balancing Adjustment it is anticipated that there will be 159,008,999 Auzex Shares on issue of which GGG will hold 28,807,101 Shares (being 18.1%) and immediately prior to the Implementation Date there will be 170,680,298 BBG Shares on issue. On completion of the merger between GGG and Auzex it is anticipated that there will be 289,002,949 Bullabulling Gold Limited Shares on issue.
leedskier: Further to the scheme of arrangement and proposed listing of Bullabulling Gold Limited, trading in GGG shares on AIM will be suspended from 7.30am on Thursday 15 March 2012. The result of the Final UK Scheme Court Hearing is expected to be announced on 15 March 2012. It is expected that after the Scheme becomes Effective, GGG Shareholders will be issued with one Bullabulling Gold Limited Ordinary Share for every GGG Ordinary Share held and that subsequently Bullabulling Gold will have 170,680,298 ordinary shares in issue. GGG's existing ordinary share capital will be cancelled resulting in GGG becoming a wholly owned subsidiary of Bullabulling Gold Limited. It is anticipated that GGG's Ordinary Shares will be cancelled from trading on AIM at 7.30 on Friday 16 March 2012. Admission of Bullabulling Gold Limited Depositary Interests, representing the new Bullabulling Gold Limited Ordinary Shares, to trading on AIM is expected to occur at 8.00am on Friday 16 March 2012. The Company's TIDM is "BGL" and its ISIN code is AU000000BAB9. Admission of Bullabulling Gold Limited shares for trading on the ASX market is expected to be on 23 March 2012. Shareholders will be updated in due course.
londonfinancial: Jaws Will try and make it for April but am on holiday until the 10th so we shall see . Good news ---------- I wanted to clear in my own mind what the production cost were likely to Be so I emailed two of the directors and received a reply from both saying That the costs would not be higher than 900 dollars per oz and more likely 700/900 . This now makes GGG or should I say BGL a no brainer .Simple maths calculations Tell us that we will kick off with a market cap of less than 100 million We have 3.2 million ozs so approx 700 dollars x 3 million is 2.1 billion The plant by the way will cost a max of 366 million (figures given to me by The directors)although it was stressed it was early days . This is before we start testing the other areas and what about the chance that we have another BGL running parallel to us . Gibralter is another interesting Proposition that so I am led to believe is 6 kms long . It really is not fantasy to think we could be looking at 10 million ozs or 7 billon dollars of assets for less than 100 million ...think about it . Another reason why the share price will continue to climb is a simple one THE PROBLEMS OF THE PAST ARE SORTED ...GONE ..NEVER TO RETURN THE share price FELL FROM 44p to today's value because of the problems . ANOTHER reason the we will see more than 40p is because we will receive Approx 60 percent of the new companies shares . No doubt about it the shares will rise IMHO Please DYOR as always Best regards to all LF
264091: Bit of fuzzy thinking on the Blur v Oasis debate. OK some spare cash buys some of the other's shares. So if AZX price is higher then the spare cash buys fewer shares. So that's easy, it doesn't matter how GGG performs at all, except that if it becomes cheaper to buy future BBG through the current AZX route then, theoretically, you might get some arbitrage but there's been none of that up till now, (except by the occasional amateur like me perhaps). No real reason to hold down the GGG price then, is there? Did you notice AZX Exploration (the Non-Bullabulling 'leftovers' plus some cash) will remain a 4% major holder of BBG after merger? It's too late to get those now by the way. They have already been demerged and are no longer included the current price, but will have significant value when listed later. Also, my AZX holding WASN'T reduced in the demerger, despite what HD posted previously. I'm guessing those will make Smarty's 'hedge' not so bad, after all, with the currency improvement also. Now what about current equivalent prices. This has more to do with the relative shares in issue. Even fully diluted there's more GGG than AZX. This should keep the AZX conversion ratio closer to 1 for 1 than many here are implying. In other words buying AZX is currently likely to be the cheapest way to buy future BBG, and if there is manipulative selling going on, as someone suggested, then the best way to deal with that, is buy them up and make them pay for it. So I'll not join the pact if that's OK, and I'll stay as overweight as I can carry.
hiddendepths: sbh - there is a cash inequality between GGG and AZX. Basically, GGG have some and AZX don't! Before the merger this needs to be levelled out so that the two can go into the new company on an equal basis. In order to achieve this, GGG will effectively buy new shares in AZX at a price equivalent to a 10% discount to an average closing price of AZX over a five day period. So the lower the AZX price, the more AZX shares GGG will own (the cash will buy more shares) and the higher the proportion of the new company will be allotted to GGG shareholders. If the AZX average price is about 25c, GGG will end up with a smidge over 60% of Bullabulling Gold. It is not entirely clear when the 5 day period takes effect but I think it may have started on Thursday so we're two days in. Obviously it is in the interests of AZX for their shre price to be pushed up for those five days, which is why we've had a string of good news in the last week or so.
7kiwi: leedskier, The timetable has slipped: " Final GGG Scheme Court Hearing Thurs 15 March 2012 Suspended trading of GGG Shares on AIM Thurs 15 March 2012 Issue of BBG Shares and BBG DIs to GGG Fri 16 March 2012 Shareholders and grant of BBG options to GGG option holders De-listing of GGG from ASX and termination of 5.00pm (WST) Fri 16 March 2012 quotation of GGG CDIs on ASX Cancellation of admission to trading of GGG 7.00am (UK) Fri 16 March 2012 Shares on AIM Commencement of dealings in the New BBG Shares 7.00am (UK) Fri 16 March 2012 on AIM and settlement through CREST of new BBG DIs under GGG Scheme AZX Shareholder Scheme meeting 10.00am (Brisb) Thurs 22 March 2012 BBG listed on ASX and BBG shares quoted on ASX Fri 23 March 2012" GGG de-lists from AIM next week now.
serious punter: Leedskier Event Time Lodge Appendix 1A and Information Memorandum Fri 17 Feb 2012 with ASX Last day of dealings in GGG CDIs on ASX Wed 29 February 2012 Disablement of GGG Shares in CREST Wed 14 March 2012 GGG Scheme Record Time 6.00pm (UK) Wed 14 March 2012 Final GGG Scheme Court Hearing Thurs 15 March 2012 Suspended trading of GGG Shares on AIM Thurs 15 March 2012 Issue of BBG Shares and BBG DIs to GGG Fri 16 March 2012 Shareholders and grant of BBG options to GGG option holders De-listing of GGG from ASX and termination of 5.00pm (WST) Fri 16 March 2012 quotation of GGG CDIs on ASX Cancellation of admission to trading of GGG 7.00am (UK) Fri 16 March 2012 Shares on AIM Commencement of dealings in the New BBG Shares 7.00am (UK) Fri 16 March 2012 on AIM and settlement through CREST of new BBG DIs under GGG Scheme
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