rearranging the deck chairs, page-5

On 20/7/2011 after PWW announced that it had acquired an exciting new uranium project, I pointed out that the Marmion Uranium project had been dropped by MLS in March 2011, pegged by Puck Resources P/L in E29/825 five minutes later and then over pegged several months later by PWW with E29/845 on 30/06/2011.

http://hotcopper.com.au/post_single.asp?fid=1&tid=1508796&msgid=8613639

I pointed out that PWW's application ranked second in time behind Puck Resources application, but confidently predicted:

"I assume Puck Resources is some friendly party who will in time withdraw their application, because otherwise PWW has nothing!"

Sure enough, last Thursday 20/10/2011 Puck Resources P/L withdrew their application - who would have thought???

And so the rearranging of the deckchairs between MLS and PWW is complete. The Marmion Uranium project from MLS is now the Menzies Lakes Uranium Project in PWW.

I wonder whether shareholders attending the MLS AGM will ask why MLS essentially disposed of the Marmion Uranium project for nil consideration to PWW (a company which I would have though would be considered a related party given that both listed companies share some common directors).

On a not entirely unrelated note, I notice that some of those same directors are also directors of BLZ. On 15/7/2011 BLZ surrendered one of its key tenements (E53/1187) next door to the BHP Yeerlirrie project. 5 minutes after E53/1187 was surrendered, another company lodged an application over the same ground (E53/1643).

A company called Puck Resources Pty Ltd.

Quite a coincidence!!