Hi, Paul.

PE> FM> What did you take up?

PE> None.  If the new shares aren't a particularly good deal, there's no reason
PE> to put money into them.

True, but I think they will be. Let me know how many you got, and
whether you want to 'stag' them (sell on first day - I think next Friday
- if the shares+options would mean a profit.

PE> PE>> So what a pity, LKO is down not because of rearrangement.
 So why is i

PE> PE>> dow (7.6 to 3.9 or something)?  Is it because they plugged a hole?
PE> You
PE> PE>> mentioned a few things that LKO had in it's favour, are any of them
PE> going
PE> PE>> t pay off you think?  BFN.  Paul.

PE> FM> I think they fell for 2 reasons - firstly they went ex-entitlement, so
PE> FM> effectively from that date LKO only owns 1/3 of Gawler Gold instead of
PE> FM> 100%, and secondly because there was an expectation that the
PE> entitlement
PE> FM> was going to offer a better deal for existing shareholders than it did
PE> FM> in the end. I thought it would.

PE> Eh?  Where did the 2/3 of Gawler Gold value go?  ie, I used to own that 2/3
PE> who was it given to?  If it was GIVEN to the people who took up the offer,
PE> then the deal should have been good, and I should have bought them?!

2/3 of Gawler Gold was exchanged for cash, theoretically at a 'fair'
value. If it's not fair, the right way, you sell them for more than
you've paid.

Regards, fIM.

 * * I *wish* I could remember where I parked my hard d
@EOT:

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