surely market will want to see sign off on all conditional items before buying right up ?
"Completion of the placement to CRM is subject to satisfaction (or waiver) of the following conditions: • satisfactory outcome of due diligence by CRM on the Company; • CRM receiving written notification under the Foreign Acquisitions and Takeovers Act 1975 that the Australian Commonwealth Government has no objection under its foreign investment policy or under the Act to the placement by the Company to CRM; • CRM obtaining various Chinese regulatory approvals; and • signing of 3.0 million tonnes per annum Iron Ore sales contract for 10 years with CRM. The conditions must be satisfied (or waived) by 7 December 2009 or such later date as the parties may agree."
UMC Price at posting:
$1.13 Sentiment: Hold Disclosure: Held
