update strikes interest in peruvian iron ore , page-8

Rahaha what a load of Kaka from whoever the spin doctor at SRK is LOL :)

They state we are pleased to announce that the Peruvian Judiciary has thrown out the case to stop SRK from exercising their right to 51% Ownership.....YET like I've always been telling you all, D&C aren't arguing about the 51% and never have done so, they're clearly been arguing that the IAC Transaction contravened the AF Shareholders agreement, which is the extra 17.15% bit, NOT the 38%......So thanks very much for trying to pull the wool over our Eyes SRK but unfortunately for you guys it hasn't worked with this so-called "good news" announcement LOL!!!

Funny how in the 3rd Paragraph which mentions the IAC Transaction which is actually what this dispute IS about and not SRK's 51% holding, it has been confirmed that the transaction HAS been suspended by the JPM which actually goes to show that infact D&C were right in their claims against SRK with regards to this transaction and like I've been saying, perhaps this transaction DID contravene the AF Shareholders Agreement. Like I've also said, never believe everything you read (esp from the SRK spin doctors imho) and in this case, it does look like D&C were right and SRK has stuffed up so it may just be that we will end up with 51% of the project and D&C will get a bigger piece of the pie now as well.

And before any of you mention the US$17mil supposed damages claim by SRK to D&C, don't even go there cause by the looks of things if SRK don't pull their finger out quick smart to sort this out, not only are they going to lose that extra 17.15% of the project for contravening the AF Shareholders Agreement but they will also have to fork out millions of dollars to D&C for damages for doing so!!!

In short, re-read the announcement and you will see that infact it is NOT a "good news" announcement and they have basically said in typical SRK spin doctor words imho that infact D&C are right and we did contravene the AF Shareholders agreement with regards to the IAC Transaction and now we have been caught out and we can pretty much kiss that extra 17.15% gone!!!

In short, we've still got 51% of a world class Fe project but I am very very mad that we are in such a position and someone at SRK imho has some explaining to do as to why they would be so STUPID to try and dodgy out another 17.15% out of the project with thinking that D&C would not find out etc???

Make no mistake about it folks, we've been creamed by D&C on this one like I've had a feeling about and today this was confirmed......NOT Happy Jan.....NOT Happy with SRK!!!