"Following shareholder approval to acquire a 59% interest in the Tubatse Project from Genorah at the Annual General Meeting, the option was exercised on 7 January 2009. The Company issued 250,000,000 ordinary fully paid shares to Genorah Resources as consideration for the acquisition. These ordinary fully paid shares are subject to a 12 month escrow period in accordance with the Australian Stock Exchange Listing Rules."
It appears Genorah had these funds placed with Rab Capital. The same fund which initially received a placement of shares from ANZ. Interestingly RAB is a Londan Based capital organisation. My only question from this paper trail is you cant cease being a substantial for escrowed shares unless someone else becomes one. Very frustrating............but i suspect the news will be positive and revealed soon enough with the CN debt disclosure
NKP Price at posting:
25.0¢ Sentiment: LT Buy Disclosure: Held
