|From: ChineseChicken (Rep: 90) reply to EPR53167||Date: 04/15/2015 15:33|
|Forum: GOLDEN GREEN ENT ORD - Msg #254||Thread #673745167 (Rec: 0) |
|Re: So many China steel names out there untouched. I don't understand the inf...|
Steel company who paid $234M for a rare porcelain collection..lmao...nice call regardless, really wonder who is pumping this..
"Management and the Board of Directors have decided to take advantage of our rich cash position to make an alternative investment, we believe, will provide a better near term return on capital. And cash flow to support our steel operations, during the transitional phase of the steel industry restructuring, in particular, we were presented with the opportunity to invest in a valuable antique porcelain collection at a highly discounted price, due to financial pressure on the owner.
We are pleased to announce that China Gerui, acquired a rare porcelain collection, dating back as early as the Song Dynasty, more than 1,000 years ago for $234 million. This purchase price represents a 74% discount to the appraised value of $905 million. It is our intention to sell all 206 pieces over time, to reinforce our cash position and earn a substantial return."
Read more: http://www.nasdaq.com/aspx/call-transcript.aspx?StoryId=2471705&Title=china-gerui-advanced-materials-group-s-chop-ceo-mingwang-lu-on-q2-2014-results-earnings-call-transcript#ixzz3XPMDwzmD
| Reply to EPR53167 - Msg #2540752 - 04/15/2015 15:06|
Re: So many China steel names out there untouched. I don't understand the infatua...
Could have something to do with fact that Yahoo Finance lists BV at $43. No joke :)
Either way, it's gone insane since I first posted on it last Thursday when it was $1!!
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