ALB - Albidon Limited
- Thread starter Halba
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- alb albidon limited
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- 10 May 2008
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ALB came out of trading halt this morning and the share price got slammed. Market depth on the buy side has since increased and selling has slowed down. Hope to see some upward move at some point
Putting your project in to care and maintenance is probably not the best catalyst for an increase, however it should slow the bleeding. The good news is that Jinchuan appear happy to keep ALB solvent. They would have been finished long ago without Jinchuan's support.
- Joined
- 10 May 2008
- Posts
- 201
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- 1
There must be a very strong reason for why Jinchuan is keeping ALB alive, the plot thickens.
They already have too much skin in the game to let it simply go under. The only good thing about this at present is that Jinchuan are hanging in there. It should survive but may take some patience before seeing a return
ALB might start-up production at its new nickel mine sooner than expected according to reports out this morning.
Wall Street rebounds on Chinese whispers
On Wall Street, the indices returned to the bright side on reports of a new
Chinese economic recovery plan, soon to be announced.
There was an immediate boost to industrial and commodities
stocks.
Wall Street rebounds on Chinese whispers
On Wall Street, the indices returned to the bright side on reports of a new
Chinese economic recovery plan, soon to be announced.
There was an immediate boost to industrial and commodities
stocks.
Curiously, ALB filed a release with the ASX on September 14 2009 listing the appointment of two new directors, Yimin Zhang and Xie Penggen. I Googled Yimin Zhang + Jinchuan and he came up as Jinchuan's Chief Australian Representative. IN 2007, he was appointed to the board of Allegiance. There was also the story in August that Jinchuan was going to convert its debt into shares. So I guess something may be about to unfold, although I am not holding my breath!!!
