I dont wish any harm on mis holders BUT this is australian resources being stolen from us full stop,if the hedgies get a sniff of this one i will ride that arse into the pilbara dust,fcking monkey the W.A. government stand condemned for their inaction,this arse is just holding the shareholders to ransom & what is needed to get sino up is for sino together with the next big hitters on the top 20, is an extraordinary meeting,i believe he law holds effectively 40% even if it did not get up,it will flush out his complete voting % for all to see,then asic could step in (finally the pea hearts)to get this monkeys % flushed out at the meeting,sino need to play hard ball with this arse as if no sino then i dont see the W.A. government whacking in for the railway, also id say dont discount mmx coming back into the picture in the future,here is mis anns.in response to the afr story:
ASX ANNOUNCEMENT
MIDWEST AND MEDIA COMMENT
Midwest Corporation Limited (“Midwest”) notes recent media coverage and speculation regarding
appropriate disclosure to the ASX and make the following comments:
1) Midwest is not aware of any party expected to make a takeover offer for Midwest now or in
the future.
2) The Australian Financial Review (“AFR”) on 12 March 2008 draws inferences from the fact
that separate shareholders have sent their substantial shareholder notices from the same
fax machine in a lawyer's office. Midwest is aware of the principals behind the majority of
its major shareholders including the substantial shareholders. These individuals are legally
entitled to privacy. Based on information available to Midwest there is nothing to support
the inferences of the AFR.
3) Regarding a statement in the AFR (12 March 2008) that “Sinosteel was denied the chance
to conduct due diligence”, Midwest notes its ASX release on 19 December 2007 that
Sinosteel was granted the opportunity to conduct due diligence but declined to agree to the
normal commercial requirements to carry out this due diligence.
4) The Company believes it has satisfied all continuous disclosure obligations under ASX
listing rules and Corporations Act. Notwithstanding the allegations and rumours published
by certain media outlets, Midwest takes its corporate governance requirements seriously
and is focused on building value for all shareholders.
I understand current jorc is 133mt with a target of 225mt well personally i would be very cautious of what this mob says,especially in respect of jorc upgrades,i see the road haulage got another extension & the siding is to begin construction soon with 18 weeks the build time,while not being fully up on the mis story as yet(iam getting there),it seems the MMX offer now was a good one?my take is the market believed MMX have got the better corporate nous & had more connections to get the deals done,id say now it all hinges on the drilling upgrades to a minimum 225mt for it to be commercially viable,i do think because of that ar5e hole law mis holders have been dudded badly for the opportunty to grow the resource base substantially with other companies expertise,i will watch the goings on with interest...LT
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