ngf processing facility, page-7

One announcement says Corporate Transaction, the other says Acquisition, with no mention of the word Takeover.

I am only guessing that Norton have bought Bullant, and that they do not want the hassle of having to off-load KMC's mothballed USA projects.

And in the current market place, I don't think Bullant is going to fetch a premium, maybe 1 cent a share, which is 100% on today's closing price. We might find they will 1.2 cents per share, with 1 cent per share being passed on to shareholders as a return of capital (hopefully tax free).

I need 1.6 cents per share to break even, but am not optimistic, especially as the recapitalisation by Mr Lee and Kwok took place at 1 cent.

I think that some directors might be happy to just get out without a loss, and move on. I think all directors want to move on to other things.

This would leave KMC as a shell, pretty much, which might probably be used to back door list a waiting IPO.

All guesses I am afraid. Either way, this has not been much of an investment.

Gw