re: Ann: Recommended 16 Cents Per Share Cash ...
According to the Bidder's Statement Conglin is the Australian subsidiary of a Chinese iron ore and coking coal supplier to Chinese iron and steel mills. The reason they are interested in ORM is this, I quote:-
"Conglin believes its strong business relationships within the Chinese rare earths industry, which accounts for 95 per cent of global supply, will be invaluable as Orion makes the transition from explorer to producer. Conglin’s business relationships with the Chinese rare earths industry, includes long-standing relationships with the Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co (“Baotou”), the world’s largest rare earth producer."
Note the words "as Orion makes the transition from explorer to producer"
Do these words carry a message or are they just being optimistic?
So what does Conglin know? If he knows why doesn't Metallica know. If Metallica knows why are they recommending a sell?
All very iffy I know, but given that Orion has not released data of any substantial finds in its tenements one has to wonder if we're missing something.
ORM Price at posting:
15.0¢ Sentiment: None Disclosure: Held
