recent buying, page-9

Rottenegg,

IMHO, those IPOs will most likely take place in due course subject to the market condition.

Directors of KOR control 37% of the company. AK & Rheingold hold 29.6% and Chancery Holding owns 8.3%. So they would like to realise value for their investment.

Basically now, KOR share holder will get at least 2 free shares in spicies distribution in 2 gold IPOs for 1 KOR share and worth at least 40c value (assuming issued at 20c per IPO share).

With MgO magnesium project, Rock Phosphate project, 2 new gold IPOs, UAU IPO and more exploration projects in NT and WA, its valuation should be more than 60c, IMHO.

Goldletter International has a target price of 50c in late October.
http://www.goldletterint.com/documents/pdf/KORAB_GLSP_Oct09Update.pdf

Few institutional broking houses have asset valuation for at least more than 50c/share. They are not in KOR website as it is for wholesale clients.


DYOR before buy/sell/hold.