I am sorry that you find yourself in this situation as I have been there myself at times.
I was a large holder in this company many years ago but as soon as the Chinese came onto the register I was gone, never to return.
I wrote to several members of parliament regarding this very practice that the Chinese employ in order to take over Australian assets.
As to be expected I never heard back from any of them.
They will take a position in a weak gold company that has good ground and then whiteant that company until the company is desperate for money.
They then step up and offer to lend the company X amount, but of course, they hold the tenements as surety.
Share holders think that the proverbial white knight has ridden up to save them, however the knight is riding a Trojan horse.
The white anting carries on until the company is stuffed and then as the major creditor, they take the tenements as payment to settle the debt.
I don't know if they even are subject to FIRB approval conditions under this method.
Now, no way am I saying that this is what has happened here, but I have seen it done in many other companies before.
It should be fully investigated by Australian authorities as it is common practice.
Lockitt
KGM Price at posting:
1.3¢ Sentiment: None Disclosure: Not Held
