re: Ann: Zhongjin Lingnan Proposal to acquire... They are...

re: Ann: Zhongjin Lingnan Proposal to acquire... They are certainly threatening us with sell it, or we do more Capital raising.
Be assured this is not a generous offer.
Share price prior to opening today was 22 cents per share.
Book Value 50c per share.
Base metal prices well down.
Interesting to note that the directors fully support the take over at 35c per share, it is obvious why three of the directors would support it and the other three probably want to keep their jobs, keep in mind the same directors fully supported the placement of shares at 42c per share in Dec 2009.
Since Zhongjin Lingnan took their 50.5% (which is now approx 53%), share in this company in 2009. The company has purchased Globestar Mining Corporation at a cost of $184M,and from discussions I have had with Perilya it can not help but make money as it is a very low cost mine to run.They have also spent millions on preparing other projects such as Potosi Silver Peak Mine at Broken Hill etc, which they now have on hold. Be assured that when the base metal prices increases and they will, these mines will open and the company will make an absolute fortune, that is if we let them steal this company at 35c per share.
I have absolutely no doubt that these shares are worth a minimum of 50c per share now, and eventually will climb to between 75c & $1.00 in the future.
I am now firmly of the belief that this was always their intention, when the base metal price is down the the share price is struggling to make an offer which appears generous but in reality is a BIG CON. I also quote from their proposal today 4th September 2013, "their willingness to financially support the Broken Hill operations through its difficult transition in late 2008-early 2009". Well why wouldn't they! At 23c per share or $46M for a placement of approx 200M shares giving them a controlling holding of approx 50.5% (which I believed that this was all they could legally own accordinbg to the Foreign Investment Review Board - FIRB )
The millions they(we) have already spent millions on Potosi-Silver Peak Mine and other projects will certainly make them a fortune when the base metal prices increase. If we allow them to purchase this company at 35c per share they will have stolen this company. I am hopeful that the major share holders will vote against it and that FIRB will not give them approval to proceed with the takeover.
This is my personal opinion DYOR