What a shambles with Dargues.
I hadn't realised its mine life is now only around 1.5 years. Yes a $136M write off last year equal to 75% of it's value so maybe I shouldn't be surprised. Has anyone suffered financially except shareholders? I doubt it as Clifford picked up $2M in '21 and $1.4M in '22. An absolute disgrace, whoever was responsible for Dargues due diligence should be suffering too like the rest of us.
Can we be confident that Federation will come good? not on Dargues performance we can't. IMO our only hope is Botten has checked it all out as other board members remain from the Dargues purchase.
Ann: Investor Presentation - Federation Financing & Equity Raise, page-5
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