Ann: Nevada Lithium proposed IPO into Marquee Resources, page-42

I think it is worth considering the counter-factual ..... what if SOC had not been brought before the Takeovers Panel? Does anybody think the management would have volunteered to correct their actions? Does anybody think the actions of the management were inadvertent? That once-upon-a-time stockbrokers didn't fully understand what they were doing and that they did not know that it was not legal?

The current discussion got started because they propose to IPO the Nevada lithium option. That option was acquired from a company [called Nevlith ... from memory] which only came into existence on the same day the option was taken up by SOC .... what is going on there? SOC paid around $100k in cash and shares for the Nevada option and now management wants to list it on the ASX?? What are they on about ... actually?? A decent ASX clean shell company is worth about $2M ... how can it possibly be justified that a $100k asset be housed in a something worth $2M? What is going on exactly??

All this in the context that the Nevada option is totally unproven as an asset with any commercial value and which, in fact, looks like a total dud.