ROFL Gwaihir .....
Like these guys didn’t have PLS in their data room already ...
UM ... Yes they did ..PLS as as well as 34 other entities they were trying desperately to flog the business to for well over a year before Altura went under .
This is as per the administrator’s report!
- ever since Azure had been appointed everyone enticed into that data room had stampeded out the exit door as fast as they could!
- Had someone farted in there?
No the bad smell came from ~$176M of debt at something like 15% interest .- And another bad smell came from the fact the business was trading insolvent from around January last year .
- Oh .... and it had this no win contract with Shanshan that Shanshan had written in the blood of years to come ... that one stank.
- Um ...and a $5 million legal case with Civmec.
- A plant that needed work.
- And important deposits that could only be accessed from PLS land.
Did I forget to say there were angry noteholders who likely had wind of Altura’s reported idea to put the company into administration itself .
The CFO had secretly resigned, an important customer (Lionergy) was so mysterious it has no address, just a few possibly faked images of a half built plant that circulated for years but was never built .
PLS and Resource Capital Funds just administered the coup de grace that had been coming for years !
Despite the protestations the AJM people were maybe even grateful (they would NOT be allowed to say that though!’
Now an Angry Phoenix ? You are joking aren’t you?View attachment 3108383
And I don’t know about “grit upon grit” either unless you are talking about something that rubs a blister on your foot and then it starts all over again?
You know there are people out there that may take you seriously ?
cheers
