where you not recently flapping your wings,in excitement, about "financing in so may days before end of September"? P.S. with all the cutting and pasting you do have you any finger nails left,or should that be talons?H.
I did not have to think long and hard to conclude Trafigura dont have my support to dislodge the Management in favour of their own, although I would welcome them to drop there demands and come up with a sensible offer to take the mine over. I am certain Trafigura are not the only ones that want this mine.
I think we should all give our support to EMED in this instance on the forums and directly to EMED as Trafigura's staff will no doubt be sifting through.......so here it goes.....
Share THE step forward taken by Trafigura requesting the convening of a general meeting of shareholders which owns Emed mine Riotinto- to seize control has not been improvised and free. With 18% of the shares, plus approximately 15% of Chinese XGC, the Swiss company has apparently tied and the support of other minority shareholders to achieve at least 51% of the property. Administrative deadlines for the submission of the draft are pressing and holding becomes necessary to obtain financing challenges that the current management has not yet succeeded.
I think you're right about Orion and XGC, they've recently increased their stake in EMED. I think that was done for both profitable and defensive reasons, i'm sure they're both aware of Trafigura's track record. They will be the biggest factors in Trafigura's success for failure. Trafigura would have to make an offer that makes it work their while to give up the possible future profits. That said corporate ideas of a good profit are generally a far smaller percentage than private investors. A price of 17.3p would give Orion an 80% return in 2 years, which by corporate standards is amazing. It will be interesting (and maybe a little stressful) to watch it all unfold.
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