A lot of all these question can be answered by looking at the other suspended Okap stocks. (Make no mistake. you have a suspension coming)
The only one in the fleet that is not suspended is BMZ and they have already been given a "please explain" on how they can continue to run with just $28k in the bank as of Dec 31. (They will be next)
CTR had only $76k from memory.
"Do trading halts get called on joints that are just about to go broke or who are broke?"
Yes Fredrick. Suspensions happen because they are broke. CCC is a prime example. The mines were never profitable and with a complicated over seas structure. You had be be an accountant or well versed Broker to cut through the BS.
"No commercial entity would consider taking stock in satisfaction (especially in todays climate) of a debt unless due diligences had been adhered too."
JC. Ivory Mint Holdings Corp are supposed to buy the CCL (All SA mines) for $75m. Which is all of their permits leaving a shell company. ABSA and EDF have called in the Admin and now have control over everything in SA. They are owed $42.7m
The Cap'en says they will have money left over to bring on new projects. (God help you )
He seems to forget that they is $27.3m in Con notes (not including interest)
Ol Cap'en pete is owed $1.8m (Which includes reimbursement of travel and
meeting expenses $1,373,000 for a capital raising that never happened!
Yet the above has not stopped Ivory Mint Holdings taking a raising of $4m up (800,000,000 @ .005 shares) and a reported $5m to come. Share price now .002c
With all the above. That is over $81m owed. Well sort of the $75m supposed sales price.
Do not discount the ability of these bottom feeders to make money.
I highly doubt there will be a 30/1 consolidation Batcher1 less then 2 bill shares on issue. Much more likely to be 10/1 imo
AIW now ARK only had 1,4m shares on issue. After on raising 6 months earlier of a gold mine. Changed it to a copper mine. (Note this)
They did a 5:1 consolidation from 1.4b. (CTR 1.7B)
They are still in suspension as it seems they are having trouble complaining with listing rules 1 and 2.
Just like CCC. The original prospectus people used as information has now been dumped.
People at CCC are still waiting for they money back. (5 months)
This will not be trading any time soon!!
CTR Price at posting:
0.1¢ Sentiment: None Disclosure: Not Held
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