interesting news

hi holders

the announcement here is worthy of a VERY close read.

CSE received an offer yesterday from Kagara at 11c per share, well hold the phone holders, this smells so bad i cant believe it, we should seriously be looking over our shoulder.

KZL began buying into CSE on 20/9/10 and had acquired 17.22% of the 116,455,571 shares on offer by 12/10/10 and low and behold out comes a take over offer that very day with a rubbish price of 11c. This company is currently doing feasibility studies on indicated and inferred resources on several sites, but Kagara say

" this is at 40% premium to 90 day vwap" and
"The Offer provides an opportunity for Copper Strike shareholders to monetise their holding in what has been, prior to Kagara,s recent entry into the Copper Strike market, a very illiquid market" oh please!!!!

do we remember the 5 million shares and options issued to a "sophisticated investor", do we remember the phosphate deal were 9.82% of GBZ ordinary shares was given away for OUR asset,do we know anything about SVH, are they a shelf company for Kagara, was the sophisticated investor buying under another guise. The top 20 i recieved recently up to 7/10/10 lists only 1 new top 20 holder with 5 million or more shares besides SVH and that is HSBC Custody Nominees Australia P/L, could these guys possibly be looking at getting large holdings, perhaps our mystery buyer who steps in when the SP drops back down to 6.2-6.4c.

HSBC now hold 6,671,050 shares, they were not in the top 20 last year, certainly could have bought more recently, the only problem is they are not in the top 20 option holders. The other major change in the top 20 of interest,
UOB Kay Hian Private LTD has sold over 3 million shares and is down to 6,409,660 shares.

look at it a different way, remembering copper prices have been steadily increasing but GBZ remains in the doldrums with low liquidity( one on Kagaras reasons for helping out CSE holders, come on)

CSE hit a high of 18c on 17/11/09, definitely appear to have then suffered a long march back to a low of 6.1c on 30/6/10 and have since slowly crawled back to mid 9c on low liquidity, the announcement yesterday has spiked the price to 12.5c.

GBZ hit a high of 31.5c on 24/11/09, we know what happened here, slow march back to 4.6c on 8/7/10 on low liquidity again, this is off the back of higher copper prices, a JV with PPC and soil samples and SAM survey results for T2 that were outstanding, hmmm, look familiar, we were basically i week behind them from start to finish of the slump, remembering CSEs assets are in far north Queensland.

QMN hit their recent high of 42.5c on 14/10/09, once again partly on the back of great SAM results and an increasing copper price, they marched slowly back to 7c on 30/6/10 on low liquidity and have made a slight recovery since.

holders, is this not suspect, 3 low mar cap companies with potentially great assets all dropping of highs around the same date and reaching a low on very similar dates.

open to discussion on this but Kagara had better think again if they expect to get my shares for less than 30c, huge leap i know but boy, are the warning signals there??

will PPC, our strategic partner be more strategic than we thought, could they possibly put in counter bids in this scenario, they are willing to spend $55 million over 6 years for a % of the sites in the JV, perhaps they could be happy to pay more for the whole lot as copper prices continue to rise.

finally you can do a 6 month chart on GBZ and overlay QMN and CSE, it looks so similar.
have Kagara had a broker employed for the past year to keep selected small cap companies with promise under control, what ever it may have cost, would save millions when it comes to takeover time!!!
KZL last year had sales revenue of over $200 million and net assets over half a billion dollars, would a company of this size consider tactics like this, you bet!!

keep eyes peeled in near future folks.

lets have it folks, am i too suspicious, i dont think so.