CBX cape alumina limited

Bauxite Hill JORC grades, page-2

  1. 6,072 Posts.
    Pisolite Hills is not dead in the water yet.

    FYI, MTE acquired 57% of CBX predominantly through frustrated and cash starved shareholders.
    Around 7% acquired from convertible note conversion for $1 million (.06 cents per share) from ballsed up Scheme of Arrangement.
    Another 39% from a Fund (RCI) that wanted some cash for $570,000 (.006 cents per share)
    Then another 11% from Metallica for $162,000 who was desperate for any sort of cash (.006 cents per share)

    So MTE has 57% of and controlling stake in CBX.

    Total investment in CBX is therefore circa $1.73 million. Not a bad investment thus far if you look at CBX market cap.

    CBX is really effectively just a company with no right of say - all decisions made now by MTE.
    Why do you think Scott Waddell moved over from CBX to MTE?

    Anyway, go bauxite!

    Even a bunch of clowns could run MTE/CBX and have it trading at it's true value but there you go!!!!
 
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