CLZ classic minerals ltd

Classic Minerals - Payments to Related Parties, page-76

  1. 2,004 Posts.
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    Try this link https://www.stillcapital.com.au it takes you to the actual website. Very little information there and looks to be set up in haste. Set up with ABN (below) Jan 21 so probably no real track record in terms of operations. In my opinion to find them you would have know them or perhaps be related to them.https://hotcopper.com.au/data/attachments/4539/4539917-f7c69675a9ff73d0a808fbe1ad4c7ce7.jpg
    Now consider this regarding the con notes (below), as I understand it.
    The most they will pay $0.075 which converts to 53.3mill shares plus 26.5mill (2 for 1) options or 70mill shares or a hefty chunk of the company. The price is now falling toward $0.03 ((b) the lesser price) which means they pay a conversion price of $0.024 (20%disc) which means 166.6mill shares plus 83mill options which means the converter now owns around 50% of the company. As I understand it, the lower the price goes the more of the company the converter will own through the issue of shares and options, so it seems in the best interests of the converter that the price tank. This makes it very interesting to know who the owner of the convertible notes are. I have my suspicions.
    https://hotcopper.com.au/data/attachments/4539/4539948-ef9fe8d1a423d037717d2e139bf5439f.jpg
 
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