Cruch time...., page-46

Interesting comment, and not all that surprising.

Personally, I think it is unlikely that there is such an issue, for a couple of reasons;

- The vague nature of "an issue" sounds more like a carefully planted rumour than fact. I'd give it more credence if there were specifics.
- The disclosure rules are clearly spelled out for directors and they would be aware that there are penalties for not disclosing material issues. Granted ASIC is not great at enforcing such rules, but I still think it is a stretch to suggest that the directors would deliberately withhold key information.

What I think is more likely (my opinion only), is that this is all part of a possible TO strategy. This maybe wishful thinking on my part, but I seem to remember similar trash talk prior to RMS taking a stake. There were a number of DataRoom articles in particular, as well as others, that kept pointing back the checkered history of GCY when Never Never was discovered. The share price took off, and it seemed like these articles kept trying to deflate it. Then surprise, surprise RMS turn up on the register.

Thanks @chartrader for sharing, it is good to know that such rumours are out there.