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Skafell Pty Limited
In May 2005, Crosby Capital Partners Inc. announced its intention to make an off-market takeover bid for Tethyan Copper Company Limited ("Tethyan") through Skafell Pty Limited, a special purpose company that was owned 5% by Crosby Capital Partners Inc. and 95% by IB Daiwa Corp.
Tethyan controls the Reko Diq Project in Pakistan, a giant porphyry copper and gold complex with total Indicated and Inferred Resources of 943 million tonnes at 0.64% copper and 0.3g/t gold, containing 6 million tonnes of copper metal and 9 million ounces of gold. A further 14 mineralised porphyry bodies are known to exist, with the potential to place Reko Diq Project among the largest undeveloped copper resources on the globe.
Tethyan was ultimately acquired by Antofagasta Plc.
Marathon Resources Limited In July 2006, Crosby Capital Partners Inc. initiated an A$0.68 per share bid for Marathon Resources Limited ("Marathon") via Buttermere Australia Pty Limited, a special purpose company established the lead the takeover of Marathon. Marathon is an ASX-listed uranium exploration company with prospects in South Australia. Marathon's most advanced project is the Mt. Gee uranium deposit, which (based on current resource estimates) is one of the 25 largest known uranium deposits in the world. www.marathonresources.com.au/ Indago Petroleum Limited (AIM: IPL) Indago Petroleum Limited ("Indago") is an AIM-quoted oil and gas exploration company operating in the Middle East. In March 2007 Indago announced that it had agreed to sell 100% of its production and development assets and approximately 50% of its exploration assets to RAK Petroleum for a total consideration of GBP194 million. This represented a 56% premium to Indago's share price on the day prior to the disposal being announced. In April 2007, Crosby Asset Management received US$17.4 million of cash through a special dividend. The proceeds remaining following the dividend are being used to fund Indago's exploration programmes. Indago, jointly with RAK Petroleum, will continue to pursue its strategy of actively converting its current portfolio of leads into drillable prospects, as well as identifying and seeking other suitable resource projects with which to grow the business. www.indagopetroleum.com Fermiscan Holdings Limited (ASX: FER) Fermiscan Holdings Limited ("Fermiscan") is an Australian Stock Exchange listed company that is launching an innovative, non-invasive test for the detection of breast cancer using hair. http://www.fermiscan.com.au/ White Energy Company Limited (ASX: WEC) White Energy Company Limited ("White Energy") owns the worldwide license to a coal briquetting process that increases the energy efficiency of low quality coal. The result is emissions savings and reduced transportation and operational costs. http://www.whiteenergyco.com.au/
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