I am so glad your patience and trust in the resource seems as if it may soon pay off kiwi ...for you and other long term holders.
I will look up Mr Luk.
To my naive(ish) eyes it seems all good here with progress towards an inevitable mining operation.
and in regards the thoughts below, I would appreciate corrections or amplifications or additional information from those who know the company better :
Cheers
Looking at the ‘half empty’ cups ;
-there are 9220.23 million shares ..... and I don’t even know how to translate this except it must be getting pretty close to a milliard billion ? or even a billiard or possibly an old -fashioned ie non American billion ? (thanks for enhancing my numerical terminologies
@Pioupiou if not my understanding ). This seems very cumbersome and messy .
-Sometime after July Brockman needs to supply $150M towards the JV.
-it is dual listed and most activity seems to be taking place on the main Hong Kong stock exchange where it has been trading cheaper and is known as Wah Nam (since this:
https://www.perthnow.com.au/news/wa...-takeover-ng-c0542bc82494fb14b7b6abd7dd21c7c4)
On the positive side it seems to me
- the ‘board has been set’ by big players for the last great cull of Australian iron ore.. ie the timing is right
- the quality and quantity of the reserve is well established
- Mineral Resources has been instantly active in following it’s intention to “farm in” with a $250 grand spend towards sealing the joint venture ( to be formalised on July 21, 2019?).
-Mineral Resources fully intends to have its BOSS light rail system up and running - the timing is right
- recently Mr Sze Hoi Kwai and his wife purchased 6,708,000 million shares * bringing their total holding to over 2.6 billion shares.
-the Port Hedland facilities have been upgraded.
-Mr Sze Hoi Kwai’s shipping line already carries iron ore from Port Hedland ( I think for FMG?)
View attachment 1441091http://www.hkmaritimemuseum.org/ind...&showHTML=0&lang=eng&record_id=26-Mr Sze Hoi Kwai set up (2017) then floated (Hong King Stocj Exchange 2018) the ‘Port Development Company’:
“Conyers advises Ocean Line Port Development Limited in connection with HK$76 million IPO
July 2018 Lilian S.C. WooBeverly Cheung
Conyers Dill & Pearman provided Cayman Islands legal advice to Ocean Line Port Development Limited (the “Company”
in connection with its HK$76 million initial public offering of 200,000,000 Shares on the GEM Board of disallowed of Hong Kong Limited (Stock code: 8502).
The Company, an inland terminal port operator, provides port logistic services in the People’s Republic of China. It operates two terminals, such as Jiangkou Terminal and Niutoushan Terminal located in Chizhou, Anhui Province. The company offers uploading and unloading of cargo, bulk cargo handling, container handling, storage, and related ancillary port services, including storage, short distance road transportation and other miscellaneous services. The company was incorporated in 2017 and is headquartered in Chizhou, the People’s Republic of China.”https://www.conyersdill.com/publica...limited-in-connection-with-hk-76-million-ipo/More Brockman hstory for anyone curious :
https://www.theaustralian.com.au/bu...m/news-story/f8da8fb288d7ccf91f3007762891a464https://www.perthnow.com.au/news/wa...resources-ng-209a17aaba4de5a75cb2800df0ce1e83*
3.4M average price HK$ 0.181 (purchased 18/01/19).......($HK615,400?)
2.566M average price $HK0.187 ( on 18/01/19)..... ($HK479,842?)
4M average price $HK0.1692 ( on 17/01/19)......( $HK676,800?)
6.708M average price $HK0.201 (on 22/01/19)......($HK1,346,700)
Total spend ( according to my sometimes dyslexic calculations DYOR!) -$HK3,118,742 or AUD$560,450.75
