There seems to be a pattern with respect to companies that are majority owned by the Chinese. Their share price underperform very poorly with repect to earnings or with respect to asset value. And in no time, the own the lot by way of strategically depressing the share price.
Can't name them. It's not hard to figure out who they are. You may try manganese, zinc and IO. Companies operating out of HK and Singapore mostly with Chinese mainlanders puling the strings.
Chinese majority owned companies listing on the ASX do so to overcome hurdles of buying Aussie resources and obtaining exploration & mining rights.
They then hop off their Trojan horse and dilute the retail shareholders out of existence with flimsy cap raising and due listings perhaps in preparation for making ridiculously low ball offers to take over the rest.
If I were interested in the promises of Hughenden, I think I know which stock to buy and which to avoid with extreme caution.
BWD Price at posting:
26.0¢ Sentiment: None Disclosure: Not Held
