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Its also worth remembering that the last time a group built a position in ACS it was another Chinese Steel Group Golden Bell and the share price ran up to 55c from 15c can history repeat itself twice?
RichMark are only at 11.84% another 8% or if they exercise those 12c options they will have around 18% but then Golden Bell will be slightly diluted so they may perhaps buy more to go back up to 19.9%
RichMark are only at 11.84% another 8% or if they exercise those 12c options they will have around 18% but then Golden Bell will be slightly diluted so they may perhaps buy more to go back up to 19.9%
Well I once speculated that RichMark had Chinese links due to the director being chinese, now we have this
"Appointment of Director
Accent Resources NL is pleased to advise that it has agreed to appoint Mr. Jun Sheng (Jerry) Liang as a non executive director together with Mr. Jie You as his alternate. Mr. Liang is a director and principal of Rich Mark Development (Group) Pty. Ltd.
Rich Mark Development (Group) Pty Ltd (“Rich Mark”) is a company specializing in iron ore and steel trading and shipping, and has been importing iron ore to China from Australia, Brazil, Canada, South Africa and India since 1997. Rich Mark is a principal shareholder in two steel mills in China with total production in 2008 of over 6 million tons. It expects to import over 6 million tons of iron ore in 2009 for the consumption of these two steel mills. Rich Mark also has strategic investments in iron ore mines, shipping, ports and banking in China.
Accent believes this appointment should considerably enhance its strategic prospects going forward and in particular the development and prospects of its flagship project at Magnetite Range."
So really join the dots, we have a Chinese Steel/Iron Ore trader buying up a heap of shares in ACS at a premium to current prices, looks like their steel mills need feeder ore
ACS maybe in play I reckon watch and see