Do Not Tender to this Stinking Offer From VAA website:
Gross Revenue Royalty on more than US$2 billion revenues
The Kwale mineral sands project (‘Kwale’ or ‘the project’) is fully financed, under construction and expects to begin production in late 2013. It is located in Kenya, approximately 40km south of the city of Mombasa, the largest port in East Africa. Vaaldiam owns a 1.5% gross revenue royalty on all product revenue from Kwale.
It is conceivable that total revenues for the project could exceed US$2 billion over its 13 year life, returning substantial value to Vaaldiam from the royalty.
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So there are approximately there are 71.634M O/S SHARES
Just the Kwale cash flow will will give VAA $2.30M CASH FLOW ANNUALLY OR 3.2 CENTS PER share
this represents a cash flow of 12% annually based on cost of 26 cents/shr for the next 13 yrs.
Man, if I can get 12% annualy with little risk, this is an absolutely reat return!
AGAIN, MANAGMENT IS SELLING THE SHAREHOLDERS SHORT, I know a lot of bagholders here like myself are frustrated and just want to get out becuase we don't have any faith in the management capabilities BUT we must hold out for more and vote NO
This is NOT done deal until the shareholders vote in favour of it.
Jackson himself said the NAV is around 55 cents, why are we selling out at 26 cents? Something smell rotten here!