?A Jinchuan spokesman justified the company's control of Munali, saying that it had made significant equity investments in the mine to save it from collapsing during the global economic turmoil.?
The fact that when GFC hit, Jinchuan torpedoed the other finance package that was on the table (one that would have kept the mine open and led to the issue of shares at increasing prices), then moved in to snap up the company on the cheap, having first forced the mine into care and maintenance and therefore administration, most likely because they did not want the off take at that time, does not give them the right to destroy our assets. If they were doing a good job at the mine, $10m would not have evaporated in the last quarter. Albidon Action are pressing the company hard to explain where all this went. Alan Jury told me earlier "I am expecting to be able to provide some information in the next day or so with respect to the March and June quarterly reports." Wow Alan don't strain yourself!
Details of the funding package Jinchuan torpedoed:
http://www.albidon.com/component/filecabinet/?task=download&fid=735
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