Rather than take the Troll's word on the rumours, I have done what you should all do, phone Royal and talk to the man: 1. Arguments as to whether Goldus owned Mintech at the time of the acquisition miss the point. Royal dealt with the sole, legal, ASIC recognised Director of Goldus and Mintech at the time. Any subsequent challenge to that Directorship will not impact on a legally binding contract with that company.
2. The SSA was the chosen method because Mintech owned 70% of Mawson Metals. Royal would gain control of Razorback by gaining control of Mintech and therefore Mawson Metals.
3. The SSA was changed to a TSA because Mawson Metals agreed to give the 30% not owned by Mintech, back to Mintech. Mawson Metals was wound up once that had happened, so the SSA was no longer required.
4. The Capital raising question is a complete furphy. A capital raising was undertaken to acquire Razorback. That's what was done. The mechanics of that acquisition were changed to protect Royal's shareholders, hardly a reason to go back to shareholders over!
Rather than idly speculating, why don't you talk to Royal and get the facts and not rely on an obviously disgruntled Goldus shareholder?
MFE Price at posting:
7.0¢ Sentiment: Hold Disclosure: Held
