hello board, count me among the new believers. this is indeed an important commodity in a changing world, and an inexpensive play on anglo's operation in SA. the more i learn the better i like the odds here on that perverbial ten bagger, (stress) given time.
as for the recent price action, i suspect the as yet obscure nature (relatively thinly traded) of anooraq combined with the anticipated outcome of the merger proposal. when trading resumed profits were mined on the news. i had to listen to the Lawrence Roulston interview on ROB tv twice before the potential here sank in. there are some fine platinum related interveiws on The Korelin Economics Report including one with Ron Thiessen from June 8th.
what to expect next with the stock, i am not sure. i think it likely that a trading range will be established from which to increase a core position from in the near term. some news out of anglo on their intent on time frame would be welcome. as to dealings with the SA government, it appears that the success of this venture is essential to black politicians and improving conditions for the SA people. to me the odds are in ANO's favor because of vested interests on all sides..
Please follow the link below as Ron Thiessen, President and CEO of Anooraq Resources talks with Al Korelin and Paul Warren about a landmark event in the South African mining sector. Anooraq is poised to become the first offshore-listed company to reach "BEE" status (Black Economic Empowerment) through acquisition of Pelawan Investments, Ltd.'s 50 per cent participation interest in the Ga-Phasha Project. This reverse takeover (RTO) has been mentioned in previous releases, but Pelawan has now received conditional approval to move forward.
Sounds like politically correct bull sh*t to me; it just means ANO is throwing more money at Black politicians; this is worse than doing business with the Mafia, because the Government has tanks and planes !!!