In Short,The Australian ASX was used to gather funds to supply...

In Short,

The Australian ASX was used to gather funds to supply and support South Africa for a resource that they will now take over for very little dollars, Australian shareholders foot the bill and then South Africa and Noble collect by sending to administration...withoiut any attempt to make this work.

IDC, Lurco, PIC, and Noble - Well played and corrupt. Our board, well someone had to look pretty and turn a blind eye... hope they all have a good insurance policy.

This all reveals a nice little scheme that can be repeated many times over... Why not just steal our money, time and effort to support South African business owners and corrupt. Signature South Africa.

A letter I wrote to Lurco below;

I still look forward to this business plan in your email below if it has any element of truth, but I imagine the plan is somewhat different to what you have eluded to my notes in our zoom catch up.

I am requesting our meeting/zoom should be rescheduled to a time you have in the next couple of days to met with and discuss my findings.

Lets tell this like it is to save all some time;

I am interested on your view with regard to the below; and happy to talk some more; otherwise I am prepared to share my 150 page dossier on this international scandal/corruption that has attempted to fleece my family investment monies.

In our meeting I had to listen to a patronising speech of investment risk. But given ResGen is sound project that was and is always going ahead with sound economics and great coal prices. i.e investments do have legitimate risk (not illegitimate risk), and with that in mind, I do not expect the risk to cross the line of corruption, whereby my funds are used for 13 years to pay for your establishment and planning. That is unfair play, of collusion and misrepresentations.

I have approach two law firms in Australia that look in part to take class action, in this event, I believe a discussion would be a good idea to stop these lengthy delays and costs for all involved – inclusive of the incoming purchaser given the ResGen assets will be frozen.

South African Liquidator - Genesis Corporate Solution - Does not respond to Australian Administrators, and is selling ResGen without any communication with the Australian administrators. i.e. Australian Administrators at McGrath Nicol gave exclusive rights to Lurco who have this pedigree noted below and to circumvent sales to an international buyer at a fair market valuation as noted in the BDO reports;

PIC - Enjoyed selling their shares at the time of finance announcement, knowing the deal was never going ahead. They did not disclose to the market, until I reviewed that their shareholding had decreased, and requested ResGen disclose. Ludicrous claims of Chinese walls??

IDC - Sabotaged the entire ResGen Deal, yet claimed to ResGen Papi, 'our door is still open'. Skittling the deal one week prior to full conditions precedent being met. I have written evidence of this.

Strangely IDC are clients of Genesis Corporate solution – so can be linked with this deal.

Strangely, Lurco have previous ties and relationship with IDC (funding for domestic assets).

Lurco - Well known for frustrating international deals with the pledge of international money. They came up with a GEM loan out of New York. Strangely, GEM was the bank associates shareholders introduced to ResGen several years ago - Strangely ResGen could close the deal with GEM, but Lurco claimed they could?

Now who works for Lurco and just so happen to have received a 9Mt contract from Eskom; then lets review these relationships and history of corruption?

Tom Moyane - Former SARS minister of Finance for South Africa - Investigated and released on Corruption allegations.

Jerome Mthemba - Eskom executive & Involvement in alleged corruption in many deals around SA power.

Aubrey Chauke COO - Ellington Nxumalo CEO - Others , we all know the rest?

ESKOM - Just happen to have Jan Oberholzer the COO, who is board member of Stefunutti (also owns shares in Stefunutti) awarded the ResGen contract, and also investigated for corruption on many fronts. A significant interest in providing a 9Mt contract to Lurco – consider the conflicts of interest.

Noble - Wanted divestment of ResGen all while we were attempting to push the project forward. Ignoring the idea of small scale for existing shareholders. Let us see how they are re-shaped out of this deal with offtakes and the like?

Xate - Our Chairmen, as anyone that went to a meeting knows, was never interested in ensuing the project went ahead. Well, he did, as long as it was by an African company out of existing shareholder hands.

Papi knows each individual personally and intimately. We will be watching closely for this relationship and subsequent payments.

Should I take this and much more information I have public?

Further, if this email is not addressed, I have applied to the Australian government to have an injunction placed on ResGen assets to have an official inquiry into this alleged corruption and review of my 150 page dossier.

To be fair, I am happy to be corrected, but everything I have reviewed and understood to date, leads me to an obvious conclusion that South African based businesses have taken advantage of international investors.

I am sure we can come to a sensible arrangement that would suit all parties involved whilst allowing the project to progress.

When you send an email to the SA administrators, they bounce...

The Australian administrators did not know SA had ResGen up for sale until I informed them about 10 days ago. Just a pathetic sytem that screws over minority shareholders!