All those that believe the previous Ann was in order do not waste your time reading on
Apologies for this being long winded
I want to take us back to the T/H
Looking at the history of our trading halts
Please note on the following dates
31 / 12 / 13 T/HALT
Ref Status of the
ALDP PROGRAM
3 / 1 / 14 OUT OF T/HALT
Ref
ALDP OUTCOME & Fast tracking India
__________________________________________________________
28 / 11 / 14 T/HALT
Ref Finalisation of incomplete Transaction relating to
MATMOR TECHNOLOGY
4 / 12 / 14 OUT OF T/HALT
Ref Formal Acquisition of
MATMOR TECHNOLOGY
__________________________________________________________
19 /1 / 16 T/HALT
Ref
PENDING COMPLETION OF A TRANSACTION relating to the companies Capital Management
21 / 1 /16 Request For VOLUNTARY SUSPENSION
Ref Requested pending
THE FINALISATION OF A TRANSACTION
27 / 1 /16 OUT OF T/HALT
Binding agreement With NMDC and NLC Secured
?????????
WTF where is the
COMPLETION OR FINALISATION OF THE TRANSACTION
All capital management Ann were always released as an update
R & D Rebate was classed and released as an update
As far as the capital Ann in our request to come out of the
T/H on the 27 /1 /16 it was no more than an update
That is all it was full stop.
This is not a witch hunt against management
Why am I so
P%$$@d
In the past, I not unlike many others I suppose, on these threads have lost money in the markets in my earlier days due to blatant Lies and deception by various directors in various companies, due to my naivety and my attitude in believing like some others on here that sheel be right mate on the next Ann
Well guess What
THOSE DAYS FOR ME ARE GONE
This Went into a T/H and
SUSPENSION pertaining to the
COMPLETION OF A TRANSACTION
FOR F^^*S SAKE what they did
does it really comply with the
ASX RULES
To go into a trading halt suggesting one thing and coming out the other end on a completely different
NOTE
DOES IT ( comply )
Look this board have fetched us a long way (
ADMITTED)
BUT
lets take a look back and this is where my mind starts to wander
They have spent the last 18 months or so doing a deal
WHICH THEY THEMSEVES DECLARED they wanted to be the right deal and not a rushed deal or words to that effect, so they have obviously been meticulous throughout even to the point of bringing onto the board a TOP IP lawyer.
These guys are all seasoned professionals all on the top off their game so to speak.
AND
here we sat last week on the 19/1/16 going into a T/H to what should have been
THIS BOARDS FINEST HOUR
They have done what no other company has ever done signed a binding deal with not one but 2 M/B $ INDIAN GOVT backed Companies
They had the opportunity to completely shake of the past, to gain total trust and get all Shareholders Plus other possible investment on board
AND WHAT DO THEY DO
THEY F^^K IT UP
YOU HAVE GOT TO BE KIDDING ME
So lets move on
Everyone is talking over hype
When we went into the T/H we were sat @ 2.9c I think from memory
We were aware at that time that the
TPA was going to be signed on the Thursday so it could be said, that for me as far as I was concerned we may well go into a T/H on Wed until the deal had been signed and out on Friday and our SP was carrying 2.9c on that summation and that summation alone.
So would it not be fair to say that had we gone into the
T/H
ref
SIGNING OF A BINDING AGREEMENT WITH NMDC AND NLC with plans for the completion of a transaction with regards the capital management to follow
Would it not be safe to say we may well have held sway @ 2.9c at least with the anticipation of the completion of a transaction to follow on shortly afterwards
HELL WE MAY WELL HAVE ACHIEVED OUR HIGHEST HIGH IN YEARS
had it been played this way.
But no the board chose to announce not just a trading halt but put us into a suspension over
the
FINALISING OF A TRANSACTION
THEY THE BOARD started the
HYPE
THEY THE BOARD INSTIGATED FURTHER AND FED THE HYPE by taking us into suspension for something that they never delivered on
This my friends is why I say the board should be accountable and an explanation should be forthcoming, for all those that live in la la land with the sheel be right mate attitude and this board can do no wrong
If this is let pass without accountability how are you going to trust the next T/H we go into maybe mid way through the build we get
T/HALT
Ref
THE ROLL OUT OF MULTIPLES OF THE COLDRY PLANT
Only to COME OUT ON
WHEN THE COLDRY DEMO IS COMPLETED & PROVEN we will get an order for multiples of units throughout India
SORRY GUYS WE WERE ONLY KIDDING COP THAT UP THE JACKSEE
So why did these seasoned professionals make such a balls up of this monumental achievement,
I have my theory but will not print it.
I could go on but I wont
I said this was going to be long, so if you are enjoying read on, if you are not enjoying then you were warned in the first line, not to waste your time FO
OK Moving onto the MENZIES theory of them selling out.
Personally I doubt it very much and I will put my reasoning out there
I did say not to long ago before the details of the note came out that whoever was selling was sure that they were going to get more and lo and behold as Mega pointed out quite correctly there was a note still outstanding and it turned up
So I doubt it very much that Menzies has spat the dummy because on the 24 / 12 /13 they would have been well aware of the plans that the board were making with regards the financing of the project as per below
View attachment 138472
Menzies through platinum Rd committed on the Jan 9 2015 To the F/F and the options Mandate.
At this time they were well aware that the Board were looking in another direction for the trade finance to build yet still committed to the options mandate
Which brings us forward
I have always said watch where the money is at, a good deal of the faithful and the money is sat in the OAs
Menzies had Approx 70 - 80 odd million OAs from memory which they bought up in the early days as they were not in the original 001c offer
I believe a certain entity if you remember pushed the OAs along which in turn pushed up the heads, we later saw through issue of the top 40s that they had exhausted all their OAs and converted and sold the wash into the increasing SP
There by putting a cool mill in the coffers of ESI well done
I did say at the time that it would only get tougher as time went by to pry the OAs out of the hands of the top 20 as they posses just over 700mill there were approx 1.3Bill on issue take away close on 200mil converted add another 200mill being held fast by the top 40 so say close on 900mill, you are not going to get your hands on anytime soon, and the free float of maybe 200mil is starting to look rather small in comparison
So bring us back up to date and management have declared within the last T/H they are looking for conversion of deep in the money options.
I am tipping the sell down by a certain entity has not only given them the finance to pursue the oppis but also by selling down the heads, they are putting pressure on the oppis, but I must say although we sit where we do in the oppis it has been on relatively low volume.
I am making no rash statements here yes the board are fantastic this is not sour grapes as I am many multiples in front.
They have got us all this far and I thank them for that but what a terrible mistake this board have made, after they have been seen to be so meticulous throughout this journey thus far.
I just wonder
I look forward to some sort of an explanation
The board should be accountable to their shareholders
If you let this go now you could well be sorry down the track
OR
Maybe just let this one go and wait for the update and F**K the damage that has been done
Enough from me
Awaiting the explanation
(20min delay)