where to from here?, page-2

I thought it was the sector Kruiser but one stock has done okay.
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Chatham Rock Phosphate’s shares today reached a new high price of 46c, double that of two weeks ago, on the back of several key milestones.

The company’s market capitalisation at that price is nearly $59 million, compared with $22 million before the issue of about 30 million shares on 24 September to Royal Boskalis and Subsea Investments.

Since then the company has:

- applied for a mining licence with New Zealand Petroleum and Minerals

- received a favourable report by Edison Investment Research stating the shares were worth $1.87 on an un-risked basis, and

- spent several days on Chatham Island widely consulting with a range of community and industry groups

- updated senior government Ministers on progress.

http://www.turkishmaritime.com.tr/news_detail.php?id=15489

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Has MNB completed any of the milestones achieved by Chatham?

- Strategic investor - NO - MNB could always go to Hong Kong and raise at a premium becasue. Current shareholders will not participate in Rights issue.

- Capital raising - MNB has not completed a large institutional raising yet so no reason for Brokers to pump ... management own most of those shares coming out of escrow

- Favourable Broker Report --- Paterson report was not that favourable as the Target was low. Are other Broker reports a possibility after site visits? Share price this week does not reflect good news but funny trades in course of sales.

--- Mining License --- nothing mentioned since that article in West Aust in April 2012.

http://www.turkishmaritime.com.tr/news_detail.php?id=15489