re: Ann: Commencement of Longwall Operations-... Whether AKJ is...

re: Ann: Commencement of Longwall Operations-... Whether AKJ is moving to privatise GNM is an interesting question. I should think that corporate law will compel him to make an offer to minority holders on the basis of independent audit and valuation, and you should get well over what you paid under the most conservative valuation. Besides, there are institutional and other significant holders, not least the other directors who would not quietly get screwed. And AKJ doesnt need to be a lousy bastard and screw minorities for a few bucks.

The man has a few ambitions too. He has stake in Wollongong port, had a 7% stake in Pike River Coal (which went up in smoke) and wanted to take over Rey Resources. I am certain once he has bedded down the 6MT prodn at GNM, he is going to explore new listings. As such I think disappointing his shareholders is not even in his list of things to do.