expensive lesson, page-10

Socius paid a premium when it invested $10M in the last ‘cornerstone investor’ placement at 4.3c, followed by another $10M at 3.584c. If those prices look familiar Trime, then consider that they are pre the one for ten share consolidation !!!

Do you think that Socius, described by Conti as a ‘highly successful United States based investment group’ did less due diligence than Village Main, a junior gold mining company ? Do you think that Socius hoped any less than Village Main to make a gain on their investment ? Maybe it’s not only PI’s that have dreamt of pots of gold at the end of Conti’s rainbow.

According to the Notice of General Meeting, the cornerstone investor is ‘one of a number of strategic parties … who the Company is currently negotiating an acquisition and/or strategic joint venture of specific operating and development projects of the Company.’ Don’t you think it’s surprising that from ‘Discussions with Indian based coal and power utility companies and major global commodity trading groups’ the cornerstone investor turned out to be Village Main ? I look forward to seeing what the acquisition and/or strategic jv with Village Main turns out to be.

If Village Main see value in investing at 8c then I suggest they make an offer for the entire share capital at that level, they may get many interested takers especially the troublesome minority holders that the Company wish sell out for 5.21c.

I bought in before on news of asset sales but it’s all gone strangely quiet on that front. Do you think we should still expect to hear that a bid ‘several times the market cap’ has been accepted ?