the australian, page-2

Folks,

I have been banished for Hotcopper for being naughty and only now has my suspension been lifted.

I have been sitting on the other side of a glass wall looking in at you and have not been able to contribute.

I have been screaming and pulling out what little hair I have left because you all seem to have missed something crucial, something momentus.

I will quote the Australian article which Rager1965 has posted:

"Rio now owns at least 14.9 per cent of Kalahari and 15.2 per cent of Perth-headquartered Extract"

DO you see it? Do you see the bombshell in that statement?

RIO OWNS 15.2 % of EXT !!!!!!!!!!!!!!!!!!


15.2 % !!!!!!!!!!!!!!

Now, either they have broken the law or they now have federal government clearance to exceed 15% ownership of this Australian company.

I tend to think RIO would be careful not to break the law.

SO what next?

Next is 20%. RIO can accumulate up to 20% before they have to make an offer for the remaining 80%. However, they are allowed to buy no more than 3% every six months and avoid being compelled to offer for all the other shares.

Another 5%?? Well that is another 10.6 Million shares boys and girls.

So YEAH keep selling at 80 cents, fine by me. Every share you sell is another share they will lock away and it will never see the light of day again, it is gone forever.

I am willing to bet that RIO will have those 10 million shares before the JORC statement comes at the end of March.

The top 20 hold about 78-80% (waiting for an updated top 20) that means that that about 42 mill are in smaller hands.

For RIO to pick up 10 mill on the market (unless some big sellers want to sell off-market) they will place a bit of pressure on the share price.

SO PLEASE PLEASE PLEASE keep selling day traders, with every sale you make you make me smile just a little bit more. You get me just a little bit closer before RIO will have to start the final proceedings.

Holders, end of March will be the zone 1 JORC statement. After that the RIO board will be reading a submission from executive management seeking permission to make a take-over offer.

You heard it first here on Hotcopper.