CUF 13.3% 1.7¢ cufe ltd

I am a GWR shareholder , Gold Valley Iron Ore had financial...

  1. 2,236 Posts.
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    I am a GWR shareholder , Gold Valley Iron Ore had financial troubles and would have lost the rights to the Iron Ore deal. FEL is giving Golden Valley Iron Ore all of the $500,000 they had basically lost on the GWR deal and 12.5 mill FEL shares and a further $250,000 in the future. What is even worse for FEL shareholders is you are only getting 51% of Gold Valley's mining rights. If you had waited 10 days Golden Valley would have defaulted on the deal by not paying the $125,000 by the 30/09/20. FEL could have negotiated directly with GWR for 100% of the mining rights. Gold Valley have already used up 8 Months of the 21 Months deadline to truck 200,000 tonnes of Iron Ore to Port. This seems a terrible deal for FEL at least at GWR we will receive an extra $125,000 in 10 days time. Note GWR has not even bothered responding to this terrible deal for FEL share holders. I would be questioning your Management as I thought Gold Valley had gone into receivership. DYOR but this deal makes no business sense at all unless you have heaps of cash available.
 
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