merger agreement terminated, page-23

groundzero

I have not been laughing at you for losing money, but I am laughing at you for thinking that your Chinese mates (and Indians) would save you. If you want to see what the Indians will do to PRH have a read of the BWN thread, where the Indians came in as a partner and then proceeded to screw the Australian shareholders. The Chinese are no different, now that they know our govnuts do not protect us any more, and the Foreign Investment Review Board is just a figleaf to the takeover of our assets.

Quite clearly the PRH board were set up by your Chinese mates to do a deal which they clearly were never in a position to implement and put the future of the company at risk for nothing. The Chinese must have strung PRH along with implied promises of funding for the project and then after PRH signed the offtake documents just told them sorry, no money, knowing full well this would be the death knell for PRH. No doubt your Chinese mates are hoping to pick up the assets for next to nothing.

So all in all, you are doing your Chinese mates a real service by reminding them that PRH is an easy one to take over, so long as they offer one extra dollar more than what SLR had offered.

I do not know and do not want to know why your savings have halved. That is your business. Clearly we all make mistakes and we try to pick ourselves up to move forward. SLR's offer would, in my opinion, have helped over time in that recovery.

Good luck for the future. And I hope that in future you are not ungrateful when another party makes an offer that can truly make a difference to you wealth rather than wishing for something that has little hope of coming to fruition.

loki (Now how will I get my $45-50k I have lost on that nag called MUN?)