NIU 0.00% 2.0¢ niuminco group limited

Hey there FID and OrsA key question that needs to be understood...

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    Hey there FID and Ors

    A key question that needs to be understood before the mounting of a 459D or AGM spill motion - Who would want to take on the (personal liability) responsibility as a director for a company such as this one that has amassed a substantial debt (at a declared level in excess of $1M with C@B less than $AU10k), has significant debt to existing Directors through loans (Inkex c.$100k) and unpaid fees (Goward has amassed a great share holding as a consequence), potentially has other offshore undisclosed debt arrangements (note the ever increasing wages bill - which can only be PNG locals) (there are wholly owned subsidiaries operating in PNG), has raised funds on the back of holding out for drilling to achieve JORC-2012 compliant Reserve Statement and has continuously failed to deliver a drill report, has been the subject of an extremely long trading suspension (suggesting a major investigation by ASX and/or ASIC - culminating in the recent policy/procedure announcements).

    It may be more appropriate and advantageous for shareholders to mount a legal challenge against the directors and their duties and obligations to shareholders.

    Has much really changed for NIU since the last attempt at bringing some sanity to the board of NIU?


 
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Currently unlisted public company.

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