ARH in its present form bears virtually no resemblance whatsoever to CKGM.
Palmer now holds around 59% of the company on a diluted basis and the Chinese hold around 12.8%. Chinese have pumped in around $56 million , with the option to pump in around another $42 million. They need to provide the $2.1 billion US to earn a 50% interest in IM.None of the current directors remain from the CKGM days (with the possible exception of Martino?)nor do any of its senior management.
This company, with the exception of a couple of remnant projects ie Cat Camp, bears absolutely no resemblance to CKGM. In any event they will hopefully be floated off in to a new entity.
Having said that i wish they could conclude at least one of the factors which will act as a catalyst for a material increase in the short term. We will not remain the highest market cap iron ore non producer if we dont.
We need to get a wiggle on.
ARH Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
