in the weekend australian, page-10

snobal

It is a really lousy deal.

$32m is unlikely to be enough to get this to mining stage. Hence there will be further dilution by BWN allowing the Indians to go to 90% plus. They will get all of the deposit for a song.

The Indians will then compulsorily acquire all shares and use transfer pricing and tax minimisation techniques to avoid paying for the profits.

This management is on the nose. They are looking for a quick buck for themselves so that they can upgrade their homes on the Gold Coast.

The deal should be turned down by the Foreign Investment Review Board as not being in the national interest.

loki