Hugh and the TMR board completed $110m share acquisition of a gold mine and soon after acquiring this asset they found they could not mine it with the method they assumed they could and had to ditch it, how could they make $110m mistake like that you ask ? We still don't know because Hugh and the board cut and run.
But that acquisition had nothing to do with the $100m debt, i still have no idea how they racked up that massive debt and the board never explained what happened after the company went into liquidation. I still know nothing.
TMR released an announcement about 2 weeks before going into receivership and liquidation thanking shareholders for there patience and we would now see continued growth. They then went into receivership and now liquidation and we never heard from Hugh or board again. There is now a case pending on one of the board members filed by the liquidators.
Yes i'm a bitter and angry ex TMR shareholder that lost a ton of money. Hugh was the man in charge and never explained himself, he just moved onto the next company (can't remember the name) and now he's here.
Check out the TMR board for more info, but that's the jest of it.
TRH Price at posting:
16.0¢ Sentiment: None Disclosure: Not Held
