Ann: Company Update and appointment of Voluntary Administrators, page-21

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rebel1

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22/10/24

14:34

Post #: 76243041
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Originally posted by orion123: ↑

Before I jump to any conclusions I would appreciate knowing what were and are the intents of Nebari when they issued the loan and accepted warrants. As always the devil is in the details of the loan (warranties) agreement and was it's design meant to take over TNC?? One only has to look at the recent takeover by the Chinese of Armour Energy and allegations of misconduct there which is now being followed on by the up coming Court case.
I'd be very hesitant to place the blame on the TNC Directors. They could very well have been manipulated into the position which we as shareholders now find ourselves.
Questions arise as to whether the External Administrators will keep the company operating or suspend operations. IMO if the former then shareholders will benefit, if the latter this will spell complete obliteration of TNC and a substantial loss to shareholders, Cloncurry and Qld.

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Voluntary administration can buy the company time. If as you mentioned they push ahead as per what the company was intending to do , then it will be a different ending for shareholders.

As mentioned before, reading 14 Oct announcement of hiring staff, everything in track does not fit with what was said in the announcement today. There is more to be revealed over time .

TNC Price at posting: 3.0¢ Sentiment: Buy Disclosure: Held
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Ann: Company Update and appointment of Voluntary Administrators, page-21

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Ann: Company Update and appointment of Voluntary Administrators, page-21

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