This thread seems to delve into how we should feel sorry for the man who nearly brought down BMN.
Here is the scenario;
1. Timing was of the essence. If Opes happened a week earlier, do you think the fund raising would have proceeded?
2. There is a comparison on the legal action to be taken by NM to recover his funds to the Bell group that took 17 years to resolve. It is in The west Australian.
3. I presume his other holdings in the various listed explorers would be suffering the same fate as his BMN holding. This would be a very costly and time consuming affair that will drag on for a long time if he has any money left to prolong the legal battle.
4. He has taken his appeal to the Rio case as announced which is a seperate issue to this personal legal issues. On top of that he will have to sit on the board of these various companies and spent time developing any potential mines and trying to win court battles both public and private. Trer is only 24 hrs in a day and 365 days a year.
Where is the motivation and energy left to be a driven director of BMN let alone the other explorers? In BMN maybe since he still has the 10% of his share in Goanikontes. Do we tolerate him being given more free options in the future so that he can continue to build his BMN stake again? This time maybe with bank loan instead of margin loan.
BMN Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
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