CFR 0.00% 0.6¢ cluff resources pacific nl

Thank you for your inquiry.While we definitely plan to make some...

  1. 1,950 Posts.
    Thank you for your inquiry.
    While we definitely plan to make some arrangement to clean up our large number of unmarketable and 'dormant' shareholdings at some point in time, we estimate that the funds required to achieve this would not be insignificant, and such an adjustment would also be better performed from a position of relative strength (that is, once we have achieved the target of fully developing the potential of the diamond projects in particular).
    While we have many unmarketable parcels, these do not directly interfere with the day-to-day trading potential, plus they also form an effective barrier to potential hostile takeovers......something to keep in mind if the results we are intending to achieve are realised.
    We would have to have a good relationship with such a third party: obviously if such an arrangement was being made, they would end up with a large holding in the company, possibly even a controlling interest.
    While this may not be a bad situation for shareholders, it should happen at the right price as well.
    Nevertheless, we will look into the Sirius buyback process and keep it in mind.
 
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