Perhaps Peter Gunzburg was even more peeved after Oxus won the recent auction for the Transgold assets with KhazakGold. With another EUG director resigning today Gunzburg does appear to be fighting a lone battle with Oxus. I wonder if he still has the support of the major EUG shareholders.
IMF's latest annual report:
It's not often you see a legal company make a loss and they don't exactly appear to be in a position to cherry-pick new business.
The deal between Eurogold and Dragon is still subject to financial and legal due dilligence so it's not a done deal yet, and with Oxus still owning over 13% of EUG they could have some influence over the outcome.
Dragon seem to have gone to great lengths to protect themselves against the deal not going ahead so perhaps they're not that confident that it will. It's also interesting to note that the deal is entirely in Dragon shares rather than cash, especially when you consider that EUG are so desperately in need of cash.
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