Ann: Target's Statement, page-19

Mate they’ve received 30% of the company more than likely by now, Hanking dot there I’s and cross their T’s. Events before the initial take over offer do seem a shady, but I can assure you that Hanking will have all their bases covered and this will go through without any issues.

If your not aware of the last project Hanking acquired, they ended up selling for A$330 million (Southern Cross gold operation) to fellow Chinese firm Shandong Tianye Group Bid Co.

Then buyer entered into a management agreement with its affiliate, Minjar Gold, to operate Southern Cross.

PGO Currently has no direction and no chance of securing a toll treatment agreement since Westgold’s Jubilee mill has been sold to Northern Star.

There’s clearly value in PGO and I may enter a new position when I’ve recieved my check in the mail, but for now there’s just too much risk having money tied up in a company who’s sharprice has hardly had any upward momentum in the last 9 months.