re: too cheap
can anyone imagine the financial loss to the chinese, holding in excess of 91% of the company ordinary shares (or over 141 million units) and the share market price drops from A$0.455 to A$0.18 per share.
the 100% control not only ensure that the above never occurs but they can always flip the company ie. on sell the company to other interested parties. that is why they have to take the company private and have to keep their purchase cost low.
100% also allows the chinese to sell parts of the company off if necessary to reap immediate profits.
remember, the chinese is buying the whole company for only $79m and getting control of scarce quality resources of over A$9.8 billion from Australia.
also, a private company doesn't have as stringent a disclosure regimen as a listed company.
CLR Price at posting:
45.5¢ Sentiment: Hold Disclosure: Not Held
