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$2.22 burrendong minerals limited

Market is forward looking, page-230

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Maysgr

1,671 Posts.

280

07/05/18

08:44

Post #: 32920381
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Originally posted by Sojourner ↑

"Why wouldn't they have done this already, if they were going to do it?" - Because they were getting millions of shares at discounts of around 90% to the prevailing price (which was not really well disclosed now was it?) which they could probably unload to the market at an enormous profit.

My understanding is that FC puts in a few million to pay for the videos, Big Un raises invoices which are booked as cash receipts to access part of the money (but not all), the market thinks this is real, unencumbered cash, stock price goes nuts, FC gets the chance to recoup their money and then some by offloading the stock or stock options they got for a cheap discount. That's how the AFR broke it down as I understand, and I haven't seen anything from the company that really proves it wrong.

Now I imagine that kind of opaque arrangement might be a little bit more difficult given the ASX and ASIC are now looking at this.

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You neglected to answer questions 2 and 3!

In regards to the one you did answer,

- the shares FC own will be worthless if they put it in to administration.
- remind me how many they own again?
- remind me how many FC have sold again?

BIG Price at posting: $2.22 Sentiment: None Disclosure: Held
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0 Great analysis

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