something doesnt smell right to me, page-2

rsomething doesnt smell right to me ... continued OK they escape by the skin of their teeth by getting Montague shareholders to cough up $75000 at 1.5c , and in October, Europa for $50 000 at 2.5cwhile they booodle round witha couple of useless projects.

Then miraculously in November this near-defunct company gets Abelle to sell it a functioning gold mine for $6.5 million, making it one of the top 10 local producers. This mine is generating a surplus of $3.5 million per quarter for Abelle (hm smelly already).

It is not even clear where LEG got the $200k deposit from, let alone the rest of the $3.5 million cash required. They get Abelle to take equity at 6cps ( !?!). Unsurprisingly after this astonishing coup, the punters (including the staff at Gidgee) oversubscribe the necessary issue in Dec, and Westpac takes over the bond, hedging, and provides a capital facility of $500k.

Wow! Not bad for a company that couldnt raise $80k six months earlier.

But then the highjinks really start