It looks like NTU's new high power Chair, Nick Curtis, has hit...

It looks like NTU's new high power Chair, Nick Curtis, has hit the deck running and is laying down the law; dumping the director's performance rights issue, refusing to ratify the tranche 2 options attached to the last capital raise, not preapproving a 10% placement facility and possibly facilitating rejection (70% voted against) of the new major shareholder's nominee for Director, Mr Tau Wu, despite his apparent emanant suitability for the role.

This last point is very interesting. According to his bio in the Notice of AGM, Mr Wu is the founder of the Africa Great Wall Mining group which operates mineral sands projects in Mozambique (including production of rare earths- most probably monazite/xenotime sands), controls barging and shipping operations and operates Guangxi Yuxiao Xijun Rare Earth Functional Materials Co., Ltd., which is engaged in "The smelting, separation and processing of rare earth elements. The company is in process to increase the productivity until the end of the year, the estimated productivity of rare earth oxides will exceed 10,000 tons, by which the annual output value will reach more than 300 million USD."

From all this it would be fair to assume Mr Wu is well established in the hierarchy of the PRC rare earths industry, the worlds largest by a factor of 10, and therefor to reject his nomination as NTU director could be interpreted as a slap in the face to PRC interests.

This is pure speculation on my part but I'm feeling some big changes for NTU on the horizon; a new high power Chair with bigtime connections in RE and capital markets, apparent rejection of the PRC RE establishment and a highly strategic resource that has been unable to be commercially developed over a decade. I'm smelling a capital restructure/change of control event in the air.

Interesting times indeedy!