Ann: SPX Denies Claims Made by VMC, page-46

from do not advertise external links.au/companies/news/904542/venus-metals-commences-supreme-court-proceedings-regarding-penny-west-acquisition-904542.html
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“The company provided the information to Mr Bosio in his capacity as a director of DJ Carmichael and to Mr Adams in his capacity as ‘Technical Adviser’ to DJ Carmichael. Venus Metals and DJ Carmichael signed a Confidentiality Deed. At that time, both Mr Bosio and Mr Adams were also directors of Spectrum.“

Spectrum, including Mr Adams, then undertook negotiations to acquire Penny West and Spectrum announced that it had entered into an agreement to acquire Penny West in October 2018.
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I may be naive, and maybe underestimate the greed/arrogance that may be involved but surely the directors mentioned would know the precarious situation they were in when engaged with VMC, and would have the experience and professionalism to not jeopardize the reputation or potential financial ramifications for themselves and companies they represent by breaking any confidentiality agreements with VMC.

I lean towards a theory where VMC are trying to take advantage of the situation to push a guilt-by-association scenario, in order to get a slice of the pie and try to appease shareholders frustrated at lack of SP growth of late.
I've look at buying into VMC a few times since earlier in the year for the nearology factor, and it seems that's been VMC's play also, with announcements repeatedly referencing SPX results. However, while their JV partner and SPX SPs are much healthier, VMC SP has been disappointing with HC threads showing obvious frustration from holders.

Will be interesting to see how this plays out.