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0.2¢ metalicity limited

The plaint is by MCA Nominess NOT MCT. Totally unrelated party.

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madau

213 Posts.

62

07/06/23

11:51

Post #: 68171662
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Originally posted by Koala1959: ↑

As I read it the application to dismiss has been rejected therefore after consideration of the evidence to dismiss the application a hearing has been scheduled - this should mean that MCT must in the eyes of the Warden has a decent case with some prospect of success against NME or the application would have been dismissed. Clearly the full hearing will have the respective cases argued in more depth and MCT could still not succeed.

Question is whether NEX having failed with the dismissal will continue to defend - presumably they will.

Took a quick look at their quarterly report and half yearly - not much happening there. $120,000 in cash at 31/12 subject to a claim for costs given the success they had in the legal action to date with MCT. The "Going Concern" report makes interesting reading and seems mostly dependent on Ken Allen and his companies continuing to provide support. It is difficult to see how NME could fund a loss in the next case coming up in July.

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The plaint is by MCA Nominess NOT MCT. Totally unrelated party.

MCT Price at posting: 0.2¢ Sentiment: Sell Disclosure: Not Held
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