the latest quarterly states Magnis has terminated the deal with PEY to broker funding for Nachu. As the funding search has been flogged to death over several years, nachu (under control of Magnis) must be considered too high a risk. So what is it worth after the zillions spent on everything there in past 15 years? - like the $5m compensation for the corn field, new village, exploration costs, Tanzania based directors fees and charges (gym membership, plane tickets, grog, cigs)
After this recent announcement of funding failure, ASX will never ever consider Nachu as complying with listing rule 12.1 under Magnis, so what’s the point of it all?
the latest quarterly states Magnis has terminated the deal with...
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