I'll start the thread on this one having invested recently. Very high risk:very high reward with this one but worth plonking a few bob of profits from elsewhere on imo.
Listed on the 18th September 2007 and is Andrew Mortimer's creation. See Proto Res of which his Director. Listed with 16m shares at $0.20 and was heavily oversubscribed. Opened at 25c. Listing raised $3m. Year high thus far is 42.5c - closed on Friday 32.5c.
Cazaly is the fourth largest shareholders in the company with 4.184 per cent. Managing director Andrew Mortimer is the largest holder with 5.23 per cent.
Co. has a dual focus on Nickel and Platinum.
Nickel - a 35% interest in four WA projects with Cazaly, with a right to acquire a further 35%. Jutson Rocks, Cosmos North, Forrestania and Bandalup.
All prospective for nickel, gold,base metals and platinum.
Platinum - Global Nickel very recently acquired a 75% initial interest in the Longwood (NZ) project with the aim to advance it to a decision to mine stage. Thereafter, Global Nickel may move to a 100% interest if its partner elects to convert its 25% contributing interest to a net smelter royalty. The consideration for the project is $65,000 paid to cover past tenement rentals and two million shares in the Company, to be restricted from sale for 12 months. If they hit a reef watch out. See Platina.
Oh can't fail to mention this - Shareholders registered three months after the ASX listing will be offered non-renounceable options on a one-for-one basis at an issue price of one cent and an exercise price of 20 cents a share.