Ann: Cash Sale of Blackspur Oil Corp for A$83.3M, page-107

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07/03/24

07:00

Post #: 72784205
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Originally posted by Access2020: ↑

Well said and agree. A few posters have now said that management killed the June deal and not the acquirer. What’s the source for this? If that’s the case surely there’s legal ramification as it’s in an ASX announcement?

The thing that stinks is Glenn and Mark clearly pushed the asset sale vs the acquisition of the company and its shares ie equity sale vs asset sale.

The outcome of this is they get all those free shares they orchestrated for themselves plus keep their well paid cushy jobs and consulting gigs all at shareholders expense who are worse off.

Anything that these guys are involved in future I will avoid like the plague. I bet these guys don’t have the guts to do a webinar and answer ALL the questions that would be put to them.

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Been awhile since I've checked the boards as I dumped and took my monumental loss from this POS.

You asked "What's the source for this?".....unfortunately nothing/anyone that could make this actionable most likely. I know of the company that had made the bid. They had access to a lot of money and done subsequent deals. Capitalization would not have been an issue. So, logic says then that the deal should have been done. Would have been likely ~$0.08-$0.12 more per share. Still garbage return but would have stunk half as much.

I cannot believe that the price has resumed trading at these prices. Nothing warrants it. This house of cards should be imploding soon.

CE1 Price at posting: 12.5¢ Sentiment: Sell Disclosure: Not Held
3 Upvote

0 Great analysis

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