wah nam takeover offer for brm and frs??, page-91

Hi (phillip_k)

I have a feeling BHP are involved or will be.

UMC were made an offer for a percentage of UMC by a Chinese Company at I think was $1.32.
BHP came in with an offer less then the Chinese and the directors sold out when their options were converted to fully paid shares by BHP.
Selling price was around $200 million from memory.
Rio Tinto had a value of over $800 million on UMC.

UMC sold for around $1.30.RIO Tinto valuation about 4 times more.

FRS being valued at less then UMC,even though they have drilled very little of the known strike area.
China Railway Corporation to help with finance of the tenements,plus willing to get involved in other projects with with FRS including rail.

Both BRM and FRS very much undervalued especially when you take into account the port infrastructure and allocation of around 50 million tonnes per Annam.

Regards
Westcott.