Hi Hawduka,
As you point out, Marampa was bought from African Minerals CEO (Frank Timis) for shares only. I feel this was for a couple of reasons. Firstly, as you also pointed out, it was in CFE's interest to have a large (19% or so) shareholder who is on your side if an opportunistic takeover move comes into play. Timis and Sage have been thick as thieves for decades and with Sage's 6%, CFE only needs to win over only 25% of shareholders to block it. Nonetheless, Timis is in business to make money, and wouldn't have let Marampa go for shares if he didn't think he would be making a large profit on the transaction. Basically, Timis played the long gane, knowing that CFE will be well north of a dollar before too long.
Peter
- Forums
- ASX - By Stock
- CLE
- cape lambert project unveiled: mcc
cape lambert project unveiled: mcc , page-5
-
- There are more pages in this discussion • 3 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add CLE (ASX) to my watchlist
(20min delay)
|
|||||
Last
0.1¢ |
Change
0.000(0.00%) |
Mkt cap ! $12.73M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Featured News
CLE (ASX) Chart |
Day chart unavailable