new neighbour to merlinleigh, page-5

Anatol may be referring to GNM.

One month ago, on the evening of 23 March, I sent the following email to a friend, after having completed a couple of days research.

"Here is an interesting one for you ???. Rey Resources owns two huge tenements in the Canning Basin, positioned right in the middle of all the land owned by, yes, you guessed it, Buru. So Rey are mining thermal coal, and that is all they can mine, because in 2008 they sold all the Oil and Gas rights for $270,000 to Gujarat Coking Coal, the Indian company listed as GNM, who are just sitting on it. You will not see any mention of the Canning Basin in any GNM quarterlies or presentations, they keep it very quiet, yet this year they are clearing environmental and community permits, and running a 2D seismic. So what are GNM up to eh? What will they do with these rights that Buru (or someone else) would surely pay a fortune for? Will they pass the rights back to Rey (for a price), will they sell them to Buru, or sell them to a multi-national, will they develop the project themselves, will they IPO a new O&G company to develop the project? There are many questions."

I have emailed the MD and CEO of GNM a couple of times over the past month, and learnt that they will not discuss the Canning Basin.

Enjoy,

Gw

A census taker once tried to test me. I ate his liver with some fava beans and a nice Chianti.
(Anthony Hopkins - Silence of the Lambs)