I have lodged a formal complaint with the ASIC though I'm not holding my breath that anything will happen. The basis of my complaint is that the bidder, Dennison, as sellers of a substantial asset of the company (milled uranium)have not advised shareholders of any progress on the sale of this uranium. I have drawn their attention to the ASX announcement dated 25/11/2010 which states that 22,000lbs has already been processes & is expected to be sold in December.
I'm starting to think that during the sale process Dennisons received a healthy long-term offtake agreement for the WCU ore & have decided they would like it for themselves.
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I have lodged a formal complaint with the ASIC though I'm not...
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