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Short Term Trading Weekend Lounge: 6-8 Sept, page-59

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FullMoonFever

6,264 Posts.

2918

08/09/19

22:07

Post #: 40354842
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Originally posted by peejayhercules: ↑

@FullMoonFever @minoil

Said Geologist did a report back in 2013 on the proposed area, comparing the geology with Cobar.
Both seller and buyer have interests in the Cobar / Lochlan Fold Belt / Thomson Fold Belt.

MD of the seller was also MD of the preferred driller. One of the Conditions Precedent was the Buyer had to enter into a preferred drillers contract with that driller. Supposedly the "failure to meet certain Conditions Precedent" was the reason for termination.

Upon termination, two directors resigned from the buyer, and were replaced by two new directors - both from a different State, and both rather well qualified for a $2.5m MC nobody company with no cash.

Not sure what Minoil has seen ...

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@peejayhercules

I also just found that the 2 new appointees to the buyer are also working together in similar roles in another company currently embarking on an IPO path.

XAO Value at posting: 6,752.7
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