xijin's secret entry, page-7

Pete

how many times do we have to advise why Xstrata opted out?

Once Anglo took action against Genorah and Nkwe they decided not to get involved in any legal battles that could go on for many years. In addition they were in partnership in other JV's with Anglo/ARM.

Funding also became an issue due to global contractions.

Currently Xijin feels confident that any legal battles will not be lost especially since a Mining Right has been awarded by the State.

Funding will come from Chinese government sources which are keen on taking advantage of cheap assets for wanted minerals.

In my opinion any takeover can only take place if 1. an independant valuation is done and 2. Genorah are offered a decent financial incentive.

Minorities will not come into consideration in the scheme of things.

Possible valuation for both Tubatse and Garatau could be 40-50c at best in this environment. I know the assets are worth a lot more. Forget about the current 10c share price. The sp is being kept down in my opinion.