re: Ann: Recommended 16 Cents Per Share Cash ... I think that CLY originally got involved when they announced Killi Killi - and he piled in at 30 cents so he was very committed to that story - that was a HEAVY rare earth play.
You have to think that his timing here is related to the AGM and the proposed resolutions. Getting Metallica's shares off the bat must be so that he can vote something down and clean out the 3 Metallica directors.
Perhaps it is that they don't want a light rare earth project 50km from the North Korean border and that they don't want the Koreans in their patch - especially because that deal was priced on shares at 10 cents valuing it at $1.6M which now turns into $2.6M. I think that this deal will be killed or renegotiated prior to the AGM. Even if Jien votes for it, CLY will be able to shut it down. Either way, once CLY has 50%, the current board and management will be gone so they will have no interest in this project.
With CLY's association with Lynus, I think that we can be sure that they have plans for this company to be worth 30 cents again soon.
ORM Price at posting:
15.0¢ Sentiment: ST Buy Disclosure: Held
