From the (16/1/15) article: A Hong Kong businessman with ties to a company whose shares are suspended after rocketing to 400 times their value is seeking to explore for uranium in NSW after the government invited his firm to apply for a licence. Chi Ho William Lo is a director of EJ Resources, one of six companies invited to apply by Resources Minister Anthony Roberts last September after the state government overturned a decades-old ban on uranium exploration in 2012. It followed an expressions of interest process during which EJ Resources was assessed in February and March by a panel that recommended Mr Roberts grant the company consent to apply. It lodged three exploration licence applications on December 19. But company records reveal Mr Lo and a fellow director, Siu-Wing Selwyn Chan, are former directors of Fifth Element Resources, which gained notoriety soon after listing on the Australian Securities Exchange in May last year. ... The ASX is concerned that Fifth Element does not have a sufficient spread of shareholders. Under the listing rules a company must have at least 300 shareholders, whereas Fifth Element appeared to have as few as 13. They include EJ Resources, a $1 company whose ultimate owner is the Hong Kong-based Global Kings Group Limited. ... centralwesterndaily.au/story/2818124/mining-company-with-links-to-suspended-firm-first-to-apply-for-nsw-uranium-licence/?cs=7
Posted on: Thu, 15 Jan 2015 21:45:20 +0000
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