RE:in the.knowfleamarket wrote:
does anyone. On this board have an idea of which companies were trying to.low.ball an offer prior to PEA. Has anybody discussed this with Glenn? Is this a potential why james xaing left? Or was it truly personal issues. If so wishing him all the best... But does anyone have any heavy did on this? He / China mineral resources limited hold over 31 million shares. Is someone close.to him making an offer? Brendenc ??? Aura would of have already if they were.making an offer IMO.
Hey Flea,
I do not know who made the low ball offers. I asked but they skipped past my question. I did not take too much offence to it as it would be personal info to the offering company. They have pointed out that Glenn rejected more than one low offer. He also said he would not be taking anymore offers on EGX until he had the PEA "in his hand". I honestly do not blame him. Hard to sell anything without knowing its true value. I would not want to be the guy who sold a company for pennies and lost out. I have an email into IR where I basically ask about Xiang. It is written as "for personal reasons", so I am taking it as just that. I basically want to know how they feel about the loss and how it will effect EGX in terms of what Xiang brought to the table such as his ties with the Chinese market as well as CMR. I figure we hold around 10 - 12 billion in resources at the low recovery rate for copper. My guess would be as good as yours at a sale price. I would follow Glenn Lainge any day over Xiang. Just look at their track records. As far as Aura goes, and I dont quite understand what your question was but I will weight in... Aura is just the investment firm. The buyer is one of the most wealthiest families in Ecuador. I have done a lot of research trying to find out who they might be. If they are investing in there own country, I figured it might be someone who would have a history of buying. Not just any family from a s 2nd and 3rd world country will drop millions of dollars in their own back yard without knowing exactly what and how to do it. My DD leads me to beleive that it could possibly be Alvaro Noboa. He was born into money that his father made owning part in Bonita Banana. He owned about 20% of the compnay and then bought another 25% or so a few years back. He points out a lot that he owns these companies, 110 in total, and that they are "family operated" with his wife and son. He knows economics, very social and has run for presidency 2 times. Losing to Correa. Who else invests and knows enough about world trade and what Ecuador has to offer other than him? Also, Glenn said that "Aura" or I personally believe Noboa, accepts any decision made by Glenn and puts full trust in him. They will not override anything Glenn does. Again, all in my honest opinion and do your own DD. GLA.