It seems that the new guard want Mr Sheard out of the way, by refusing to allow item 5 they think Nick will quit his position.
Item 6 is also stopping the management from making any significant rights issue that may effect the current shareholders control.
I predict that the Hawsons JV will soon go to Dejin Resources in HK if it survives
I say "if it survives" because given the poor state of Dejin finances it is hard to see that it could hold on much longer.
Dejin gross sales in the last 18 months do not even cover their administration expenses and when interest expenses are added the gross sales are less than 50% of these two items giving rise to increasing and unsustainable losses.
However despite this poor trading and financial showing their is every day a great deal of activity in the Dejin shares which does not make sense if you look at the companies trading history.
As soon as Dejin share drop which has been the history since Mr Cheung took over in 2010 the shares are quickly pushed back to around 30 cents HK. This activity has been evident for more than several months now.
It must be quite expensive for somebody to maintain this level of support for a company that is bleeding both capital and making substantial losses.
that why I make that prediction above.
CAP Price at posting:
19.3¢ Sentiment: None Disclosure: Not Held
