SPR 1.16% $1.28 spartan resources limited

Ann: Non-Binding Indicative Proposal from Rivet Group, page-20

  1. 11,817 Posts.
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    No prob Gwaihir,
    just a follow up, whilst I knew that Adaman resources recently went into admin, I was not aware of all the other gyrations that seem to be mixed into what is clearly a basket case of a company/companies/shells etc... But... if BLK/WMX can continue to exist, then... why not other failures... confused.png

    Suffice to say, I think the article supports my view that Rivit/Adaman are trying to either reduce debt, or... tie together GCY/Kirkalocka into a larger, processing hub of sorts... to package it up for... who knows what, a hail mary sale to some foreign entity.

    Mining company collapses after reportedly racking up huge debt

    https://hotcopper.com.au/data/attachments/3505/3505510-b17205a7a7409ddefbb4ab9a2dcaef52.jpg

    Maybe... GCY should reverse the whole deal and offer to buy up Kirkalocka, Snake well etc.... since they are clearly able to mine low grade ore bodies. (joking everyone).
 
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