If AMG had representatives on the Board previously, and then simultaneously and suddenly resigned with a very short notice from NIU to the ASX announcing same, a sudden appointment of the CoSec as a Director, as I have asked before - why? Does anybody have any idea why they up and left - and with it the share price dropped and has yet to return - SP is very closely associated with SH sentiment - my simple mind looked at events - SP increased significantly with "new minds" then substantially dropped when those "new minds" left. SH equity was stable"ish" when the "new minds" were on the Board - not so post "new minds". ASX/ASIC now constantly enquiring as to liquidity with each quarterly report, each time another CR.
Why is each CR linked to drilling - does the drilling actually occur? Results seem to take for ever, and sometimes never come - what does a drill campaign cost?
The results of the voting at the AGM would not suggest all is well for those that were up for re-election - was the very fast paced Rights Issue (conversion of Director Fees and more SH dilution) an enabler for some to have just enough votes to hold on - if all was well the Spill Motion would not have carried - someone has to know something, there are pieces of information in the public domain - just have to do research and ask the right places (dig around, snif it out)
Does anybody know why the TNT float took so long to actually list - neither company provided any information to the public. Normally it only takes a couple of days from the close of the prospectus - has anyone checked in with ASX or ASIC on that - neither company has made any disclosure.
From what I have read, NIU SHs did not receive any shares in TNT Mines - why is that? Typically when one business is 'spun off' from another SHs receive some securities in the new enterprise (2 for 1 for example). One valid question to the NIU Board must surely be, it cost NIU approximately $5M to acquire over 70% of TNT Mines (which involved SH dilution), there was a consolidation (I sort of get that, not totally though), and then a float - what price was realised by NIU for SHs? Both NIU and TNT announced via announcements on use of funds and answer to ASX/ASIC questions regarding 'insolvency' that TNT would be repaying NIU loans in full - i.e. over $900k - the reality somewhere was that NIU only received approx $750 odd thousand - is that full and final settlement or is there still an amount to be repaid at some time in the future - waht about the $5M asset is that just to be written off?? Have a read of the 2016/17 Financial Report and look closely at the Assets and what is included there.
NIU Price at posting:
0.2¢ Sentiment: None Disclosure: Not Held
