Word is that they were hoping to collect some $10m from all the exploration rebates which they had never submitted, that in itself is derelict in their duty to know that they either didn't know they were eligible or couldn't be bothered or both. Even the CLZ guys know the money available in Exploration Rebates, in fact I reckon they probably alerted FAS management to it. Anyway I hear that Deloittes are preparing this so it the real deal, hence why Sheldon Coates placed them in Administration as it was his only chance to get his money and good on him. Unfortunately by the time Deloittes get paid then Sheldon the rest will go to management no doubt. So its not dead yet if they get the money but it will prolong our misery a bit more.
FAS Price at posting:
0.4¢ Sentiment: Hold Disclosure: Held
