CLE 0.00% 0.1¢ cyclone metals limited

mcc ordered to pay a$80million into escrow, page-10

  1. 2,674 Posts.
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    CFE says Give us the mine back in full settlement of the $80 million you have held back on + the interest you have made us miss out on + the legal fees and we will call is quits.

    My opinion is that they have held back on the $80 million because they overspent on other projects.

    I don't see why we should suffer because of their poor business decisions. They owe the full amount plus interest plus legal fees and I also would add a penalty for all the opportunities that we have missed out on.

    In addition the Tax issue may also be on hold because the ATO and CFE are trying to figure out what the net effect of this $80 million is as well. We have payed the ATO around $30 million I believe. Would that payment have been necessary if we had received the $80 million on time?

 
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