Court Update November 28th 2022 Medcan v CGB, page-73

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workingdog

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09/12/22

13:43

Post #: 65242613
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Originally posted by Luke164: ↑

I'll put it this way - if there is an attractive mining investment that could triple your money over say 2 years, would you put it in your own company and take the totality of the gain, or put it in a company where you only have 2 or 3% ownership? That's the choice predicament they have potentially put themselves in. Your opportunity as a shareholder to participate in this project may have been taken away because others value their own interests over yours, even though they may have a fiduciary duty to act in your best interests as a shareholder of the company which they are a director of.

According to news releases, Mars Mining Limited has committed $500k to a JV project. Let's say the directors/shareholders have come up with this funding themselves (again, in conflict to the issues in the prior paragraph). 12 months later they turn around and say 'hey, we want to sell Mars Mining Limited to CGB for $1m - you could make a potential $500k (if the original investment triples) but we get to pocket the first $500k return for this'.

Yes - a 50% return is nice if it is achieved. I am not doubting that.

But in this case you've been ousted of a further $500k return too when - if acting in the best interests of shareholders - the original investor should have been CGB anyway.

Expand

If it is a mars mining deal and ASIC and CGB shareholders approve it, that's all that's needed presumably?

They took mining off the website so it doesnt look like its that anyway.

I'm confused but I'm kind of excited about the mining stuff now and its probably got nothing to do with us.

Last edited by workingdog: 09/12/22

CGB Price at posting: 2.1¢ Sentiment: None Disclosure: Held
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Court Update November 28th 2022 Medcan v CGB, page-73

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