Hi frmen. Thanks for the reply. I punched Springsure into google and found this article.
http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=96132547
Looks like Guilford couldn't buy the license, so they are going for almost full ownership of the company, and need a cap raise.
Key developments for Springsure Mining Pty Ltd.
Guildford Coal Limited and Springsure Mining Pty Ltd. Announce Termination of Springsure Agreement
07/22/2010
Guildford Coal Limited announced that Guildford and Springsure Mining Pty Ltd. entered into a sale agreement dated 26 May 2010 (Agreement) under which Springsure would transfer to Guildford its interests in an exploration licence application EPC1674 � Springsure Project (such licence was subsequently granted on 30 June 2010). On 9 July 2010, Guildford was officially notified by Springsure that it was not in a position to complete the Agreement Guildford has agreed to terminate the Agreement.
Tilleydog, looks like a lot of closed door stuff is getting revealed due to a spat between chairmen1 and an ex-member. It is getting confusing, but as long as the share price is strong, I can't complain.
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