The latest BMA announcement at 3.56 pm today (25/1/07) indicate that CBA still got 13.68% or 33.36 million shares of BMO that are POTENTIALLY to be sold. CBA may also decide to keep the remaining shares. Time will tell).
BMO advises that it has finalised documentation for an $8 million Loan Facility with the Commonwealth Bank of Australia. The facility matures on 31 March 2008 subject to maintaining gold reserve tail covenants. For further details, refer to 23 Nov 2006 announcement. Can CBA pull the plug?
Will the directors of BMA buy those BMO shares from CBA? Maybe BMO directors can do like Michael Kiernan of Monarch Gold Mining (MON) that bought the 13.99 million shares @ 18c for total cost of $3 million from MM&E, (refer to 11 Jan 2007 announcement) or another company like SBM that bought 10% of BDG (refer to 12 Jan 2007 announcement) when BDG shares being dumped around 30c.
DYOR before buy, sell or hold.
Cheers,
BL
BMO Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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