a very sexy shell stock below asset backing

I'm only new to the OKJ party, but I reckon this is a pretty sexy shell company going under the radar of many. They have been very tight-lipped to date. Today they announced the completion of their $2.5m placement @ 20c/share to issue 12.5m shares (of which new director Garry Thomas injected $1m).

Director holdings are as follows:
Garry Thomas - 6,000,000 shares (13.3% of total issued capital)
Mark Jones - 3,800,000 shares (8.4% of total issued capital)

These guys backed in ELM's potash deposit, and made themselves and many others some serious coin.

OKJ currently hold the following assets (based on today's share price):
2,500,000 ELM @ 60c = $1.5m
3,000,000 KRM @ $1.22 = $3.66m
11,000,000 EZA @ 40c = $4.4m
Cash = $2.5m

Total Assets = $12.06m
No. of Shares = 45,000,000
Asset Backing per Share = 26.8c
Current Share Price = 22c
Current Market Cap = $9.9m

I believe the company is looking to acquire an overseas resources project, most likely a near-term producing asset. Precious metals (gold/silver) were mentioned when I last spoke to the company several weeks ago.

OKJ is one to keep an eye on!