Anglo, page-70

Bolsonaro is trump on steroids. 

What I cant understand is how cartesian have managed to get 3 members on the board when they can only have 2?

They are clearly using all monies raised to pay back themselves while throwing red herrings to shareholders and in any negotiations with Anglo they will not have shareholders best interest at stake. To top it all off they also get the performance rights when they are the ones preventing cascavel from receiving any much needed funds.

Its worth noting also that Anglo where doing due diligence on Elisio for 12 months before they announced the JV MOU. At this time the cartesian security was only on Cascavel.

-Dec'16 the security is changed to include all Brazilian assets including Elisio 

-within weeks the Anglo MOU is announced on everything except cascavel

So while Anglo where performing DD and most likely in negotiations with management regarding the JV, Cartesian somehow managed to get security over everything. Anglo went ahead with it and even provided much needed funds until Gray came on board when they have just sat back until now. 

Elisio seems to be very highly valued by both sides.

Has anyone reached out to the old management team to find out what they know? Clearly shareholders are being kept in the dark on a lot of things.