IG6

1.18%

8.4¢ international graphite limited

Thank you for your clarification.Either way, the present...

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Surandy70

11,031 Posts.

1822

12/06/23

17:13

Post #: 68246787
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Originally posted by Cranium73: ↑

I agree completely with your post.

I am now expending far more time than I want too .

I was avoiding a voluminous reply to the other poster so I may have paraphrased a little?? For the record, Administrators don't get involved in the asset realisation but are a conduit to the company proceeding generally to either Liquidation or executing a Deed of Company Arrangement - this was an example of me not getting into the "nitty gritty" details.

My point was simply that an insolvency practitioner is in a position of trust and duty bound to act accordingly. They will not simply dump assets for peanuts for fear of attracting the wrath of creditors who are already disgruntled.

As you pointed out, they may seek advice and/or assistance from a broker and/or solicitors in order to execute an off market sale. In doing so, they would need to satisfy the creditors (and possibly obtain Court approval) that their proposed course of action was in fact the "best" course of action..... this is why I said "not without jumping through many hoops first".

The other poster said (among other erroneous comments)...
"IG6 can raise $1.5M and buy Comet's shares."
AND
"A DOCA will pay pennies for the assets of Comet..quote irrespective of the value of shares held on Comets books."

I was merely trying to highlight some errors, but I'm starting to regret it and maybe should have left it alone??? All good from my end.

Good luck to us all.

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Thank you for your clarification.

Either way, the present situation with CRL's shares in IG6 does create an overhang in the market place which, until resolved, is not good for IG6 shareholders.

I don't agree with the suggestion of IG6 raising funds just to buy those shares as that would be a waste of shareholder funds. If any funds were to be raised by IG6 then they would be much better placed to advance our progress in becoming a producer of graphite for BAM and potentially for mining their graphite resources.

IG6 Price at posting: 22.0¢ Sentiment: None Disclosure: Held
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(20min delay)
Last 8.4¢		Change -0.001(1.18%)		Mkt cap ! $16.25M

Open	High	Low	Value	Volume
8.5¢	8.5¢	8.4¢	$17.27K	204.2K

Buyers (Bids)

No.	Vol.	Price($)
3	66225	8.0¢

Sellers (Offers)

Price($)	Vol.	No.
8.4¢	18029	1

View Market Depth

No.	Vol.	Price($)
3	66225	0.080
2	56800	0.075
1	18000	0.073
3	123000	0.070
2	102370	0.066

Price($)	Vol.	No.
0.084	18029	1
0.085	286758	2
0.088	70000	1
0.094	24595	1
0.095	525	1

Last trade - 16.10pm 12/07/2024 (20 minute delay)

IG6 (ASX) Chart

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