Ann: Annual Report to shareholders-NOR.AX, page-45

New to this board and also to HC so excuse my butting in, but this is pretty basic and JoJo is right. Whether you agree with the logic of reverse mergers they've been very popular, especially on ASX, in recent years, especially for technology companies combining with natural resources firms, as even the popular financial press reports. Also here.

They are a good way for a tech company to get noticed without struggling through an IPO and giving up too much of the company. It's also a plus for both companies if the more or less defunct mining company still has some cash on the books that it can't get to stockholders on a tax efficient basis. And in this case, the holders of Monteray Mining (a gold miner, not iron) saw their investment go up by some 700% in a few months. While it's back down now, anyone who was frustrated with gold mining had an excellent chance to recoup losses or make some big gains.