I'm not surprised they are putting money in at 10c. I don't see that as a credit to them. In my opinion if they are so confident on the company the question had to be asked, where they buying in the 20c and 30c mark like others were doing?
Also I fail to see how they couldn't get other investors in at a higher price either. I think them spending money on ground work etc when Shenghe should be doing it is a disgrace. The Tanzanian Government had no problems delaying the project before so I don't see them suddenly rushing things now. Surely Shenghe could have lent them the money to get them through this period.
To me they are only lining their and their institution mates pockets at our expense. If they think that a diverse group of shareholders aren't going to have some unhappy people with the share price levels we have, the disgraceful discount they gave, as well as the delays then they don't have the character to hold their positions.
PEK Price at posting:
11.5¢ Sentiment: Buy Disclosure: Held
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