GREY:CUDBF - Post by User
Post by
Tornado69on Sep 02, 2014 7:55pm
274 Views
Post# 22899239
according to investor relations
according to investor relationsall the paperwork is in from KMDC the only issue is it being a equity stake in the company (them now being 25-30% owners/shareholders of the company) which they don't do. They usually do joint ventures and don't take ownership of a company. It's also a partnership in a foreign country (canada) They are awaiting approval from the Korean central bank to approve the money and then it's done. They assumed it would be easy and no problem but this situation is new because they don't take ownership in companies. The first 18 million they are putting in is probably a days earnings from their 100's of billions in investments. It's a mere pittance really. It's a big deal for a small junior to raise that kind of money but on a gov't level it's squat.
And as posted earlier from Korean news they are investing another 82 million as they want to turn this company into a serious oil producer. They want a stable place as many areas such as their other venture into Myanmar are unstable. Canada is a very stable place to do business so don't panic, just a hiccup on a long road to future successes.