Eddie was always a wheeler and dealer in Bayan Resources where he earnt his billions. I did a bit of dealing with him 2007 for BHP to use his Balikpapan Coal Terminal. He was tough and realised BHP is as weak as fairy floss. Eddie doesn't remember me but so be it.
So I campaigned against Eddie's 6% ICT commission and then asked for his 223 million votes. Hmmmm? That deal was identical to China Rail deal and Eddie stood in when China Rail tried to screw Cokal at the signing meeting and had to be sent packing as they would have screwed us! So 6% is too much but it is a premium for saving the company. Remember as Ben detailed that it includes prepayment of coal as it is loaded onto barges. That is huge. And you may note, ceous and Robin, or is that Batman and Robin? , That the payment for the coal comes to Cokal, not ICT. Read the details! and we have 3 days to forward payment to ICT. So there goes all your rubbish about selling coal at different price to what Cokal is paid.
CKA Price at posting:
8.4¢ Sentiment: Buy Disclosure: Held
