garimpeiro writes up jindalee

Brilliant article in today's Age newspaper.

http://www.theage.com.au/business/jindalee-shareholders-to-reap-a-chinese-payoff-20091101-hrnt.html

Unfortunatley, Friday's selloff in the US, and the fact that it is Melb Cup eve, may nullify impact of article. But I guess thats a buying opportunity.

The comment about potential distribution of its ALY shares (and possibly other ones) is news to me. Didn't realise they were considering that as well!

I have crunched some numbers...'IF' they were to distribute:

- 9.8 million ALY shares, and
- the remaining 14M EME shares

at current EME and ALY shareprices that would equate to around 60-70c return PER JRL share.

And thats before any franked dividend from the TKO proceeds.

I have posted my email in a previous post if anyone wants a copy of the spreadsheet.

Cdchi1