Prior to your post, I have not read or heard anything about a company called MMX Miner taking over Perilya Mining operations at Broken Hill or anywhere else for that matter,i must say i am astounded and would like to know how these rumors start and where they come from. Correct me if i am wrong but Zhongjin Lingnan own 52% of Perilya and that is all they can own. On the 5th of February 2009 Perilya advised shareholders that Zhongjin Lingnan had received confirmation from the Federal Treasury under the Foreign Acquisitions and Takeovers Act 1975 (Cth)that there were no objections under the Australian Governments Foreign investment Policy to Zhongjin Lingnan acquiring an interest of up to 52% in Perilya ( FIRB approval)i may be a little naive but i believe that there is a certain amount of comfort for the rest of us shareholders in the knowledge that that is all they can own, and it follows that that is all they could sell if they so desired, my own personal thoughts are that that is the furtherist thing from their mind,i believe that they have put their hand up in supporting the Globestar Bid which i think will be successful,there is a lot happening at Potosi,and we could have a genuine star in Mt Oxide, Perilya have reduced their costs considerably at Broken Hill,why would they even consider selling a part of their assets which is a winner and cash flow positive.My opinions only DYOR.
PEM Price at posting:
51.5¢ Sentiment: ST Buy Disclosure: Held
