re: Ann: Rights Issue Underwritten at Premium...
The team behind Jelsh and the Hong Kong members are very good at what they do. They see the value and will move to take control. They have been operating for some 20 years now. The key man may be the same one who changed his own name about 3 times. He was involved in Asia Resources at one time. Interest lies in iron sands (ring a bell!). Studied in Australia at one time.
My guess is that he/they are more interested in Makmak than Nakru.
Its obvious that they want control and no difficult partners. Hence why they are buying and approaching us off market. They will only be satisfied with full and safe control. My guess is that they will go all the way and later grow towards or (if they have to) pay higher to get their 51%.
We will be getting lots of Asian interest soon enough.
Last point. One on the key partners in Papua Mining is an unknown company. There may be business discussions linked (maybe ideas only at this stage) but suspect there may be some trading of assets to PML by Jelsh to fund Makmak. Wait and see.
Note those in the know vale Nakru alone to be anything upwards of 20M so what is going on and why no valuations and statements? Looks like a clandestine takeover but then again, market forces may prevail and they get it cheap.. We are seeing the free market at work?.
COY Price at posting:
3.4¢ Sentiment: Buy Disclosure: Held
