Chris, from what I remember Dr Robert Coenaads was on a $300,000 p/a contract for geological consultancy so if they didn't have the money it's likely they issued new shares to him (thus the lack of info on 'beneficiary') just as they were to pay Medcan directors (x2) their fees in either cash or shares (quarterly) - which is obviously now the subject of court proceedings for non-payment.
Since most of the St Johnstone tenements were surrendered, Coenaads was brought into the fold of CGB as a fulltime employee at some point in the last coupla years.
I think the last few blades of grass at St Johnstone is up for renewal by the end of next week.
Someone mentioned in the last few days it was an area of just 12 hectares (30 acres) - no point (imo) to throw more expenses at that - just get rid of it eh.
They also wrote off around $300k for 'exploration' in one of the recent annual reports.
Hope that helps a bit.
- Forums
- ASX - By Stock
- CGB
- Ann: Quarterly Activities/Appendix 4C Cash Flow Report
Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-118
-
-
- There are more pages in this discussion • 24 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)