Read the rns.Special div of 4p a share for a start.The new co shares are on the canadian market,the deal has already netted a paper profit of 13 million quid on the new gold mining co.The new co will be capped at around 28 mill.READ READ READ-The upside in this over the next few days could be substantial.

Hmmmmmm!!!!!! Slater!!!!! buyer beware!!!!


Due to the fact that Mark Slater, Chairman of Galahad, and his family have an
interest in Shambhala Gold, the Acquisition is a related party transaction under
the AIM Rules. The Independent Directors, having consulted with Seymour Pierce
Limited, consider the Proposals to be fair and reasonable insofar as
Shareholders are concerned.

Pommy are you still with us?
What are yr thought on GLA now that Rio Timto has take an interest in the Canadian "Pebbles" field? Also (perhaps) you were right - the Shambhala has turned into a Shambale.....costing GLA about 50m write-down I think was reported. Sounds like a little careless to invest in something at the Owner's valuation....wouldn't you expect there to be a claw-back clause so the money would only be paid (with interest at base-rate), once the mine was profitable...etc.? That's what I'd expect...otherwise GLA could be buying a field of sand...or worse a field of very hard rocks.
It would be interesting to know what "deal" was struck by Rio Tinto....can't imagine they'd fall a simple trick....so that looks like the Canadian field has some value - Q, is - is it worth 11p/share to us?
All IMHO.