http://www.theage.com.au/business/all-will-be-clear-at-fortis-once-potash-cloud-clears-20110626-1glmh.html
"FORTIS Mining chiefs Jitto Arulampalam and Frank Cannavo are clearly hoping to repeat history by moving into the boardroom of another exploration hopeful, Great Western Exploration.
The duo have not only taken control of the board, but brought along some of their favourite Hong Kong backers from would-be Kazakhstan potash miner Fortis - Madam Cheung Kwai Lan, and Team Lucky.
It is an interesting diversion given that Fortis's shares have tumbled in recent weeks, briefly touching $1 earlier this month and generating a ''please explain'' from the ASX.
Advertisement: Story continues below
In fact, the ASX appears to have been leaning a little on Fortis to choose its words and announcements a little more carefully.
In an odd sequence of events, Fortis announced on June 17 that, contrary to a suggestion in a newspaper column, it had not done any further deals in Kazakhstan, and was not pursuing any further proposals there.
''ASX has confirmed that if the company was to enter into any other transactions in Kazakhstan or elsewhere before obtaining shareholder approval ? that the company's shares are likely to be suspended,'' said Fortis, acknowledging that it needed investors to tick off on its sea change from last year's float when it was going to chase gold, nickel and copper.
Strangely, the same day that the article speculating on Fortis's direction had appeared, the company's shares were put into a trading halt at its own request ahead of ''a proposed joint venture in Kazakhstan ? not associated with the previously announced proposed acquisition of Ji'an Resources''.
Nothing has been said about that since. Maybe investors will hear more at Thursday's meeting in Melbourne when they get to approve share and note issues to Asian investors to help fund the Kazakh potash developments.
Maybe they will also hear what Arulampalam and Cannavo have planned for Great Western."
No more conspiracy theories over who Madame Cheung is,
all the non-holding naysayers can move along now as they have no legs to stand on.
Add to My Watchlist
What is My Watchlist?