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crouching tiger - hidden dragon, page-16

  1. 8,611 Posts.
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    EL,
    "...But no Occam I don't need it written in tablets of stone or anything, but have learnt to be very sceptical.....In this case I see little reason to believe the ICN of the future cannot be characterised by the ICN of the past...."

    But thats the problem in a nutshell here!!!
    Sceptiscism.

    I have had plenty of critiscm of ICN mgt over the last couple of years.
    The last straw for me was when ICN Board tried to raise equity from a mob in Hong Kong, and would have given away control of the coy, in very spurious circumstances. That lead to a push for a Board spill, which was defeated because of the stranglehold of the MD (and the fact that the rebels could not offer a viable alternative).

    Its that poor history that has lead to this sceptiscism.
    That sceptiscism has been fuelled by a lack of detail, and poor media coverage.

    I would be the last s/h to defend this Board!

    But many posters are failing to see the wood from the trees.

    All that has happened is that ICN have secured a very valuable MOU !

    The next issue is can they move it to a binding GSA?
    They will only get to a GSA if they can "box the risks".
    That is, they need to get all the major components in place by 31 Aug 2010.

    But if they cannot move the MOU to a GSA, then whats the problem?
    The only loss will be incurred by those NEW s/h who bought in high, and will be sitting on a loss if ICN is unable to achieve the GSA. We s/h who were sitting on ICN pre-MOU should be no worse off imho.

    What everyone needs to focus on is this:
    - this MOU is legit (and valuable)
    - ICN have said they have been negotiating with Sino since Dec 2009
    - ICn evidently have 3 Chinese speaking senior staffers (obviously employed for just this type of deal)
    - China has evidently stated that they wish to foster deals with smaller players instead of multinationals
    - the State Govt of SA is excited, so that has to give some credibility to the proposal.
    - ICN are now saying they have been many approaches to ICN since the MOU was announced
    - it is clear to me that ICN have been negotiating with gas suppliers, LNG proponents, funders for some time.

    there is no doubt in my mind that we ICN s/h are much better off now, than we were this time last week.

    why were some s/h, only a week ago, screaming at ICN mgt for apparently getting nowhere, yet now when ICN mgt have come up with the ultimate prize, still not happy?

    People are bagging ICN simply because ICN have produced the big prize out of left field.

    It is another issue as to whether ICn can unwrap that prize, but if they cannot, we should be pleased that they at least had a go.

    I believe that this deal has a long way to go, with many twists and turns, many new players, many new players and surprises.

    EL, don't be surprised that some of your favourits stocks may become involved.

    cheers
 
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