I am glad Mr Lim's statement corroborated with my observation and uneasy feeling on the deal with Mineral Enterprise.
Certainly LML's prospects are more than meets the eye. What bugs me is why the haste to part with so much for so little especially when the cash position of the company is well adequate in meeting it's current activities. The management has total disregard for the interest of the minority shareholders. By pegging the rights issue at a premium to prevailing mkt traded price, it doesn't take much to figure out the uptake response from minority shareholders. Bottom line is Mineral Ent and associates would land up enjoying maximum profit sharing at minimum cost whilst this has a dilutive effect on the other shareholders equity.
Granted that changes in the board can be disruptive but under the circumstance and gaugeing from the credentials and qualificatiosn of the prosposed members,I am more than convinced to give them my thumbs up!
LML Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
