Everybody understand there are probably a lot of people who gave them money who are very upset at the moment, they want their money back, and they don't want near worthless shares. The vote is going to be interesting. You can see how the insiders were in the convertible notes, the shareholders had the shares, then they dropped the 2 consolidations on the shareholders, and the convertible note holders were immune from dilution, in fact, they benefited from it, The company was paying the note holders 36 percent (cumulative) which would work out to about 50 percent per annum after the third year.
And guess who was paying the interest on the money the company convinced the insiders to give them - the shareholders via the capital raises.
It looks to me that the big capital providers might get their money but the smaller capital providers might get shares & who would want those?
What happened here, is that certain people started to see what was going on, but by the time they got out the damage was done - night might be a case in point .
This was a very sophisticated sting .
I wasn't the only one, who noticed the board didn't hold shares for long, they got rid of them as soon as they were able, and the convertible notes were the place to be.
I think the vicious attack you see being unleashed here, has got to do with them getting their hands on the 7 million dollars. Of course, that's shareholder money, because that is who paid for Kat Gap. But the big capital providers will probably get their hands on that.
They even have the Gekko, obviously someone wants that . Of course, the shareholders also paid for the Gekko.
Daftgarf has indicated that they are not happy with the price they are getting for Kat Gap and they probably aren't, after nearly 100 million has been pumped into this company one way or the other. I think it is likely that CLZ got themselves in a corner, & the financiers are sick of their procrastination, as has been demonstrated by one after the other falling by the wayside . The company has demonstrated considerable skill in playing one group off against another.
I don't understand how anyone could be happy about any of this if they do try to do something with the two ladies, they have very little money, and one is just a hole in the ground, They missed out on owning the leases after failing to settle 3 times. How much money would they need to commence mining at the Ladies how long is it going to take to get permits and water?
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