Thanks to the.frackIt is a bit late in the day however its not...

Thanks to the.frack

It is a bit late in the day however its not over yet so we keep going.
Posco were brought into this at the beginning. Here is my latest letter them. If you are interested I will post all my communications on the board room blog.

Dear Mr Shin,

As you are a director of Murchison Mining, I expect you will have already received my proposal regarding a merger between Murchison and Bass Metals Ltd.

I would like to give you the opportunity of reviewing the proposal as the representative of POSCO business interests in Australia.

I believe that it would be in the best interests of POSCO to leave Murchison’s strong capital base intact and support a merger.

The amount of capital returned to POSCO, if it is decided to approve a capital return, would be a relatively small amount compared to the capital base of POSCO. Therefore it may be wiser to use the strength of combined capital to take advantage of opportunities for growth.

A merger with Bass gives POSCO, through Murchison, an interest in a substantial gold and silver resource at a time when there are concerns about the devaluation and debasement of fiat currencies and ultimately the survival of the present financial system.

The merger also gives POSCO an opportunity to strengthen its presence in Australia.

I have attached my latest thoughts on the merger for your consideration.

With kind regards,