Basic Minerals4 Oct 2016 15:57
Interesting Holdings RNS that seemed familiar. Basic Minerals were one of the subjects of the 17Feb RNS re the Meradell vehicle for the forestry, they were also noted as signing a sales agreement, so Obtala's agent(?), for Asia, Russia and Middle East and stated they have offices in HK and Russia. They are now increasing investment their shareholding in the parent company Obtala and not simply the forestry funding vehicles.
Also Valentin Bovykin (Russian we presume) based in HK! was accumulating through the summer through HSBC trustees but seems his shareholding is now noted as Basic Minerals.
Thoughts and theories welcome on these developments.
The board own just under 40% of the share capital in Obtala, with Bovykin now on 9.25% that's nearly 50% tied up.
On the face of it some interesting developments, not least having sales partners put their own skin in the game and keen on a slice of the main pie.
As I say thoughts welcome.