Regent Pacific Group through its 100% owned subsidiary, Regent Pilbara Pty, has made an all cash offer to aquire BC Iron Limited.
While this offer has no impact on BMN directly, it is worth noting that prior to this offer, Regent held approximately 20% of BCI. Regent is currently invested in 6 companies. BMN is one of them. http://www.regentpac.com/template?series=1&article=11
I have pasted an extract below from Regent's recent announcement hilighting their intention to invest in high-quality mining companies with the intention of becoming a player in several different miining sectors. I am very encouraged by their investment in BMN. :::::
"The Companys stated strategy is to become Hong Kongs next major mid-tier mining house focused on bulk commodities, base metals and gold in the Asia-Pacific region. As a Hong Kong listed mining company, the Company aims to serve as a platform for growth and a cultivator of high quality, accretive mining assets across Asia-Pacific. To that effect, the Company has assembled a leading team of M&A, technical and project managers dedicated to maximizing value from existing assets and identifying new strategic opportunities for further development.
Consistent with this strategy, the Company currently holds significant equity positions in several promising mining companies, including a 19.87 per cent. shareholding in BCI as a result of its participation in various BCI share placements since June 2009, at prices ranging from AUD 1.10 to AUD 2.30 per BCI share."
Good Luck to All
BMN Price at posting:
83.5¢ Sentiment: Buy Disclosure: Held
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