ORP 6.56% 6.5¢ orpheus uranium limited

Ann: March 2022 Quarterly Activities Report and Cashflow Report, page-3

  1. 5,274 Posts.
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    Hmmmmm this smells fish:

    "Orpheus undertook a seed capital raising of $370,000 to fund its activities. This reduced Argonaut’s interest to 67%.”

    What it is saying is that the management sold 1/3 of our asset without consultation with ARE shareholders - And it also means if for example they raised about $1mil then ARE would have lost it all - DOES NOT MAKE SENSE AT ALL.

    Do we know what has been done with the $370k? Has it gone straight in the pocket of the management?

    Any comments?
 
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