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CCI Letter to shareholders     14-Oct-09 10:00 am    
Found this with a google search. At the end of this excerpt, CCI says they are getting less for the sale than expected, so Amcol must be getting a better deal.


CHROME CORPORATION LIMITED AND CONTROLLED ENTITIES ABN 30 003 207 467 2 CHAIRMAN'S LETTER TO SHAREHOLDERS
Dear Shareholders It is my pleasure as your new Chairman to present you with the Chrome Corporation Limited ("CCI") Annual Report for the year ending 30 June 2009.
Although appointed subsequent to balance date, I have closely followed CCI as a shareholder during the year. In the world that was CCI significant success, volatility and change has occurred, whilst in the larger economic environment in which we exist, the past year has been one of unprecedented financial, equity and metal market volatility.
The previously announced and approved sale of the Ruighoek Chrome Project to AMCOL International Corporation experienced delays in settlement and eventually a partial settlement was completed in February 2009. An option to acquire arrangement at the discretion of AMCOL and a deferred put option arrangement in favour of CCI has been established to
enable a deferred completion of the sale without significant disadvantage or variation from the initially agreed sale price. CCI however have endured erosion in the expected final value due to strong appreciation in the Australian Dollar exchange rates and remains exposed to these fluctuations.
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CCI Letter to shareholders
steve_382 Not rated 14-Oct-09 10:00 am  
 
Implication is that price is in US dollars, but Ch...
akaplan_98 Rate it 14-Oct-09 05:10 pm  
 
Here is part of the earlier ACO news release....
steve_382 Rate it 15-Oct-09 08:23 pm  
 
Steve, blows up my theory. Incidentally...
akaplan_98 Rate it 16-Oct-09 01:15 pm  
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Amcol International Corp. (ACO)

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