Does anybody Remember this "TROJAN HORSE" in 2008 ??
Strategic Alliance with Resource Development International (RDI) On July 4th, MEO announced a strategic alliance with Resource Development International (RDI), an entity associated with Prof. Clive Palmer, one of Australias wealthiest men who has extensive and long standing business connections in China. Prof Palmers private company Mineralogy subscribed for 21.391m shares in MEO at $0.55, contributing $11.765m in working capital before costs. RDI is seeking a Hong Kong Stock Exchange listing later this year in support of developing its iron ore, nickel and energy interests. Notwithstanding the unprecedented turmoil in financial markets, RDI has advised MEO that it continues to press ahead with its listing plans and has had a number of encouraging discussions with potential cornerstone investors
MEO Price at posting:
35.0¢ Sentiment: Hold Disclosure: Held