The post below from the far time zone is the most amazing I’ve yet read. The post came in 8 hours before the AUS market opened. It indicates the big OXR are looking to get in on Prominent Hill (MNR). We all know a deal is in development.
But here’s the gotcha - $140m is mooted to be raised by OXR for BHP’s 51%. Simply astonishing! Validates just how big a mine Prominent Hill is.
If BHP’s 51% in the project is worth $140 million. Then Minotaur’s (MNR) 25 million shares representing 19% of the project could be seen to be worth $2 each!! (19/51 X 140,000,000 ) / 25,000,000.
Yet no one but me responded. A lonely feeling. At the market open I bought 2,000 of the 20,000 on offer at 0.76c and left 18,000 sitting there and very little happened till 12:30pm est. – then MNR quickly went up to 82c. Amazing!!
Infact, it was not until 11:25am that the bulk of the 76c parcel (15,000) got picked up. Money on the table and no one wanted it. Wow!!
Anyway here is the remarkable post that will go into MNR-OXR history if the deal goes ahead. ‘Tokyo Joe’ will be famous.
