Mr John Ian Stalker. of Pala Investments, he was CEO of Uramin Uranium, and another person by the name of Mr Ste- phen Dattels is one of his closest investment friends together they sold Uramin for 2.5 Billion dollars making a profit of well over 1.5 Billion.
They then formed a company called Polo Resources which they then acquired a substantial 36.2 % holding in Extract Resources, after they knew some other company was interested in Extract = Rio Tinto, they purchased shares from about $1.40 up to $10.20 accumulating that 36.2% the shares averaged out at about $4.50 per share and then subsequently the chinese made a $8.65 p/s t/o offer for Extract, the reason I know this is I had a very good holding in EXT AND the t/o is history and I was able to retire.
Now the reason I have posted is to let you all know that Mr John Ian Stalker is a very astute investor, he would not have invested in ELM if there was not money to be made, he has a golden touch. now I would not be surprised if he did not instigate Dingyi into making the T/O offer knowing that someone else was interested in ELM, we shall know if this is the case in about 3 months IMHO.
Investors should keep a eye on the s/p, because the bigboys have taken control of the price, they will sacrifice a few shares, to shake out the weak holders, and it will be interesting to see if we have new sub holder notice released to the ASX in the next couple of months, and while they have the s/p down where it is at the moment, I have and will continue to take advantage of this situation, and don't be surprised if these big boys don't give the tree a good shake, all I want to say is at these prices, it is $$$$ for nothing.
IMHO, PDYOR.
Cheers. Simmo.
K2P Price at posting:
53.5¢ Sentiment: Buy Disclosure: Held
