china friend or foe, page-2

China aren't stupid and one thing is for sure, they know how to make money. Moly mines was in a BAD position before China came along. Although their investment is in essence a great thing, a lot of people are forgetting that we are basically handing Moly mines over to them on a molybdenum platter...

After the dust settles and when the ridge goes according to plan the Chinese will then start to gobble up the remaining shares. They can literally do what they want from then on. (Yes I know there is FIRB and ASIC - But who are we kidding ourselves, they don't really care, they have MUCH bigger fish to fry)

I read in their little essay they sent out to all its shareholders that this offer is 'not fair, but reasonable'. That is probably the best way to summerise it.

Is it fair another potentially great Australia Mining company which had the means to be something great is about to be taken over by the Chinese? Not really...

But it is, reasonable, in that this is our only option at the moment. A lesson I have learned in life is that EVERYONE has an alterior motive. Moly mines was drowning in a sea of debt and the Spinifex lifeline is just slipping away from grasp, it just so happened that the Chinese happened to be at the right place at the right time.

They are there to lend a helping hand, but remeber; all the glitters is not gold, it might be molybdenum, but it sure as death and taxes isn't gold..

In my most humble opinion, I do not think that anyone else is going to attend the Moly Mines saviour party. I am thinking this because why else would our directors sign the company over for such a little price? (56.9% to be excact at .747 a share).

It's too late for other companies to grab a bargain and given the flucuation in the price of molybdenum one has doubts as to whether other companies are willing to take such a gamble. Mines are expensive things to start and nothing ever goes according to plan.

I hope I am wrong, I hope that Thompson Creek or similar companies will be our saviours and the Hanlong offer can be trumped. But as the time ticks away and there only a few days till we get final approval at the next meeting it's all in the hands of fate...

One thing is for sure though, everyone who does get the SPP won't lose money. We just won't get rich over night (except for maybe, Hanlong).

Goodluck to all the shareholders and hopefully Hanlong is just a helping hand. But something tells me, a company that needs a minimum of over 51% to be a 'helping hand' seems a tiny bit avaricious. But then again we aren't excactly in a position to make demands...

DYOR

MadeInChina