What a Gawdawful name!
ARL loses its backstop to its so-far-failed bid to convince the market of the value of its Ni-Co portfolio thereby increasing risk to holders.
If these assets are so valuable, and worthy of 8M of new investment, then why the new entity with associated doubling of overheads?
Guessing directors are creating an avenue to continued salaries via new entity at some point...not fooling me...P
Ann: Godolphin Resources - a spin-out of Ardea's NSW tenements, page-17
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