GREY:LBEFF - Post by User
Comment by
JohnEStromJron Aug 01, 2009 4:40pm
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Post# 16184763
RE: John.. nice post
RE: John.. nice postanimal1,
Again, I hope you're right and I'm wrong - but let me set the table for you [a worst case scenario] First, while they now own just over 50% they can but another 189 million shares when they choose. We will not be given a warning when this happens. In the mean time they're buying shares to get them over t hat 80% hump. Once they're there any time they choose they can take Liberty Mines private. No one can stop that and no one knows when but it will happen.
Once private they can, as sole owners, do what they like. I also think they can force you to sell your shares - but I'm not sure.
Once private all they need do is keep the Canadian government happy but that's a two way street since China represents a huge source of cash for the government, a provider of jobs and the major buyer of Canada's chief asset - it's mineral wealth. As long as the government is getting their "fair share" they couldn't give a rip about what Jilin Jien do to us. Again, this is 'a' worst case scenario and who knows, maybe they'll be generous. Don't count on it. Why shouldn't they rape and plunder Canada [within limits] like they're doing elsewhere? Again, I don't know but I've not often been wrong when I've bet on people in a position of power to abuse that power or in a position to make a lot of money by playing dirty not doing that. I do know that we gave away way too much of the company to pay off those loans to Salman Partners/Casimir and other expenses and, from what I understand, they essentially "bought" Liberty Mines by making loans to the company that have to be repaid. This is a short version but keep in mind, without any operating costs factored in, we owe $500,000 per month - and we're not producing anything. Also that we don't know just how generous Jilin Jien will be with regard to how much they pay for that metal and I doubt they'll pay anything to "us" for the byproduct metals including PGM's and copper. Let's hope they're generous :\