ESR didn't just do a capital raises they have a driller there drilling at a fixed rate in American dollars up to I think a maximum of $10m converting to debt that I believe can also revert to shares,diluting existing holders out even more,considering its market value is only $12m,after it's recent cash raise,so that could be 50%. dilution if they ever find anything.
SO IMHO - DESPERATE FOR CASH
Maybe this whole action is just to give their shareholders hope of a big payday coming.
Also IMHO- Reality is even if there was trace lithium mined it would likely be lucky enough to make one electric car battery - retail $8k
I have no doubt Auric would either have offered them something for the mineral rights out of courtesy initially and kept records of having done so,or decided there were none worth bothering about where they are mining.
Auric after all have the drill results and know what they are mining and IF they show NO LITHIUM then someones court case claim if after compensation,will likely get thrown out anyway.
COSTS APPORTIONED APPROPRIATELY.
That's the real world and frivolous court cases only make lawyers rich.
They also p-ss off those adjudicating.
Their only real avenue for payback for having their time wasted is how they award costs and what they include.
Having strangers popping up here out of the blue quoting historic text book court cases ESR may wish to present out of context to justify said court action says they are maybe using a bit of media effort to squeeze Auric into a quick cash settlement by destabilising the share price.
Might have also been quoted to ESR by lawyers to convince management they could be in for a big what the American's call a "greenmail" payout.
IMHO- SUCKERS if that's the case.
DYOR + DYODD Most holders here are holding tighter than a ants a-s and picking up a few on the dip.
And yes,I have in the past studied a commercial law course tutored by a well respected liquidator,so used to legal shenanigans and wind being blown into my sails for many years, seeing it for what it is and then dealing to it, just Like AURIC is.
LA-LA LAND IT IS.
The posting of so-called legal precedents proves it to me.
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10 | 392353 | 0.160 |
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Price($) | Vol. | No. |
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