Post by
tony1969 on Jul 06, 2013 7:57pm
Something to think about....
According to the circular the 2011 deal with TGZ was derailed because they could not come to an agreement with Senegal on the 25% buy in. The supposed deadline for the Senegal decision on the buy in is July 9th according to the circular. In other words NO COMPANY CAN BUY OLE OR COULD HAVE BOUGHT OLE in the past until this 25% buy in gets finalized. Who is to say that the various other interested parties mentioned by Bendon and now OLE in the circular are not waiting for this final issue to be resolved before they make an offer to managrment. OLE's management is to be blamed for many things but in my opinion the government of Senegal is just as guilty for this prolonged situation and the delay could not have come at a worse time with this collapse of the junior market. TGZ had their hands tied until they finalized an agreement with Senegal. The next business day they announced their intentions to bid for OLE. They knew that OLE had not finalized the 25% buy in option but I guess they wanted to get out in front of any other potential bidder and let their intentions be known. After this 25% buy in fiasco is resolved OLE may have more options to consider. This may be why they are advising us to do nothing. JMHO.
Comment by
goldn1 on Jul 06, 2013 8:47pm
"NO COMPANY CAN BUY OLE OR COULD HAVE BOUGHT OLE"
Tony, are you trying to say that OLE/TGZ didn't have a deal on the table in December of 2011 and this 25% cr*p is what prevented it from happening? I think you need to read your comments before you post them...
G1