Full quote for the punters: "That approval is due by early October. No – we don’t see any issues with obtaining it, especially after POSCO has already approved its investment after an intensive examination, review and due diligence. First, POSCO has had many consulting groups contribute to its due diligence; secondly, the investment proposal went to its Investment Committee who recommended it to the POSCO Board; thirdly a Board Sub-Committee reviewed and recommended it; and finally POSCO’s Full Board reviewed it and said ‘yes’. That is a substantial process and so we have good reason to think the Korean fund’s formal approval is imminent. The fund is essentially just doing due diligence on POSCO’s due diligence." - David Harley
I guess we will find out one way or another soon. I hope today's sell off isn't indicative of a leaky (sinking) ship, and was someone needing the cash.
GUN Price at posting:
10.3¢ Sentiment: Hold Disclosure: Held
