I think you are on the right track. I mentioned this company and others a couple of weeks ago on this thread..........
"Not sure about this, but is it true Tim Kestell (under the name Blood and Guts P/L) sold out of Emmerson Resources to fund this buying? I see their share price has performed about as well as NEN over the past 4 years with highs in the 40's to 4 cents today. They listed in 08 at 20c dipped to 5c discovered something (gold, I assume) rocketed to 40c, dipped to 10c, back up to 30c and then down again. They just seem to be burning the cash. So what is their plan for NEN? The names of Pynes, Kestell and Williams also seem to crop up everywhere (Indago Resources, Centralian Minerals and many more)".
The current board will have to announce something worthwhile soon (I mean a worthwhile investment or project before someone jumps down my throat with a smart comment!) otherwise these people will just make easy money. Still a bit worried about NEN's ability to manufacture any kind of deal with this hanging over their heads. Why would anyone want to come in with NEN on a project/farm in/ merger etc not knowing what the short term future was? Evoworld now own their 20% so a meeting of shareholders must be sooner rather than later. Hopefully they have bought out the traders leaving the longer term holders to decide the company's fate. I just want to see how either party can add value to the company. Think very carefully before you vote!
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