STTCOMP CYU, FA Long MC at 0.008 = app $7m Cash $2m as of Dec...

STTCOMP CYU, FA Long

MC at 0.008 = app $7m
Cash $2m as of Dec 31st
EV $5m
SOI approx 886m

CYU are a shell looking for a mining project in DRC, having offloaded their Mt ISA tenements recently. They raised at 0.006 in October via a non-renounceable rights issue to existing shareholders, which was largely underwritten by Bienitial International Industrial Co and also by the MD Paul Williams. As a consequence of completion of the Offer, the holdings of CYU’s two substantial shareholders changed as follows:
* Bienitial International Industrial Co Ltd – increased from 118,249,000 (19.9%) to 349,018,230 (39.35%); and 

* China Yunnan Copper (Australia) Investment and Development Co Ltd – shareholding of 299,922,326 did not change but percentage reduced from 50.72% to 33.82%.
So you can see we have 2 majority holders here and the MD is the number 3 SH - I know what you're thinking right.....another company with majority Chinese ownership that will never do anything. Maybe so, but....

I think there's at least an outside chance they could acquire a new project and pump it like crazy as we've seen happening lately (SCU anyone?). There's also got to be a good chance of them now pulling out a Cobalt acquisition which could fire things up a bit.

Definitely a risky one so not for everyone, but worth a watch IMO

My plan B was that they might at least flag a possible Cobalt acquisition in the next Quarterly (due late April) but with the increase in interest recently I'm thinking something may happen sooner so didn't want to wait to tip it.