crystal clearFirst of all,,,, I have to say that GBK shareholders are about the same wimpies as CZZ shareholders.
I read the deal with JJ and GBK
JJ will lose.
Here is why. This is from the agreement:
" JJ shall be responsible for funding all operating costs that cannot be funded out of gross revenue."
" Any cash availabe for distribution recieved by JJ shall be applied to reduce oustanding amount of the JJ contribution by the corresponding amount of such cash available for distribution recieved by JJ. Cash available for distribution shall be distributed as follows:
( 1 ) firstly, to make the required payments of the sum of the financing expenses"
The agreement said nothing about gbk having to fund anything up front. And it says nothing about squeezing out gbk voting shares. NIce try JJ
JJ is trying to pull a fast one here. The agreement is very clear to me.
GBK will fly.
This mine could produce about 300 million a year in profit. GBK gets 25% of this. 2-3 bucks per share.
I dont blame JJ for trying. Thats a lot of cash to fork over.
Thank you.