There is also a heap of news articles clarifying that the matters were thrown out off court and dismissed. But Spidey won't give the actual truth. As with a lot of his comments. For someone who speaks like a lawyer he certainly doesn't seem to stick tio the truth and always the truth when creating a discourse based on old articles and not current info. Spidey would be reporting that the world was flat still after Colombus got back/
Listing on the Oslo exchange made no sense and is part of an ill thought strategy in the bumbling coup de tat that has ultimately failed to achieve anything.
Any achievements they have done are simply things being done out of necessity to fix what was broken during the coup that has directly destroyed shareholder value due to being poorly planned, arrogant, over confident and filled with incompetence from the beginning.
You yourself cant even understand how to connect a power point let alone a power grid. Fulang is spot on. Accurate and up to date info based on independant reporting and sources outside of the MRC reports , which is the only real source Spidey uses as it is what he has at his finger tips. So basically Spidey you only argue with info that creates the MRC narrative, and no independent info or reports of a substantial nature excepting gossip column journalistic efforts.
So what you basically are saying is that:
A) MRC sold their LiCycle shares for 7 million dollars which Caruso actually set up way back at a cost of just a couple hundred thousand cost to the company as a forward thinking relevant industry investment strategy; and that upon dismissing him they sold the LiCycl shares at this massive profit, (which was really well hidden from shareholders in reports), and then burnt through that cash to keep the doors open because during that quarter there were moments that MRC was obviously in dire straits, if not, then why was the quarry report showing such a small amount of cash at bank...so with out this, they were buggered.
B) still had to raise well over 10 million in the capital raising that many of us feel breached listing rule 10.11.3 and that the placement to AU mining should have been voted on but wasn't, and,
C) additionally Caruso resolving the GMA garnet issue which resulted in another 21 million dollars for MRC and an ongoing revenue generating agreement
So a total AUD $38,000,000.00 was all blown within a very short period of time of around 6 months specifically around when your preferred crowd dismissed him, and that all that cash was burnt on trying to keep the doors open and even with all this cash flowing through the accounts, you couldn't even list on a small and inconsequential exchange in Oslo. The feel good move, let's list in the country we are listing in and create a new entity so we all get new jobs and job titles and salaries.
And the best that could be achieved was the plant burnt down in Norway and local suppliers still had to threaten strikes before they got paid in South Africa...So out of interest, where did all the cash go? Because it is not reflected in anything new or substantial.
The deal with Mitsubishi is only an MOU, it means nothing, and based on the teams recent history with failing MOU's I do not expect this to be any different and they have simply managed to convince Mitsubishi to do this on the basis of they have nothing to lose, but MRC can use it as a promotion thing, at which they are doing very poorly as we all agree. If the team was competent it would be more than an MOU but apparently they do not know ho two write up any corporate agreements more than a bit of fluffing up.
The cost of this failed effort to shareholders is the cost of GMA and the LiCycle share sale revenues of nearly 30 million dollars being blown on bandaids instead of being used for the benefit of the company growth. And why sell LiCycl when it was part of an obvious effort to have a stake at a very low entry price in a company that was relevant in synergy to MRC developing further suitable products oil its end. However the LiCycle is washed over and although it can be found in reports, it is really well hidden in small print behind a tree in the dark on a island full of ghosts. They do not not want it to be obvious that this money was also blown, as was the opportunity of keeping teh stake in LiCycle battery co.
Mondo Rock, Your world is as cold as iceComing to a headset near you soon Spidey on a channel of greatest Hits.
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