Malaco Take over at most 57 Days awayIt's now apparent that Malaco Mining a privately held firm owned by our new Director Dato is the new major shareholder with 55 million shares.
What has occured;
Robert Baldock our former CEO that tanked the company has retired.
Graham our Chairman and part of the Balddock grouping has lost the past voting control of the 56 million Goldmet shares, that have been mostly recently purchased by Malaco.
Since Baldock retired we have an interim CFO.
Dato, has a proven track record of making excellent deals and being an astute business person.
How the real world operates when a strategic business person with funds takes actions.
Fitrst; take control of a fraction of the shares and take over control of the Board.
Second;take a low share valuation company with a great outlook private.
Third: take the company private with a below book offer and at the low end of the fair valuation.
Fourth; unlock the potential of the company, increase profits and list new firm raking in a fortune.
We will see a offer to take the company private for a fraction of the value, in around $.30.
Hang on it's on going to get real interesting very shortly.