Just a question You had the opportunity to sell and didn’t Why?

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Swarvetoldmee

645 Posts.

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12/02/25

18:37

Post #: 77827231
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Originally posted by bungalowbill: ↑

Yes Fifo , it looks like a decision was made to replace GarfMate as representative, because he wasn't up to the task .
He was replaced with someonewho has never been a shareholder. This person never discussed the company , apart from saying he was too smart to invest in it.
He then started fabricating a conspiracy theory to say the company's main critic was really a disgruntled investor.
Who really deams up this BS?

This is all likely designed to deflect any criticism from the company leading up to the vote, for the disposal of Kat Gap.

Posible LDA may be prevented from voting their shareholding ,because they are an interested party. Also their interest and vote may be restricted to 19•9 per cent-which is the maximum allowed before a formal offer is needed for the rest of the company under the takeover provisions of the Company Law.
For the above reasons maybe the vote will be closer than imagined.
Likely there are those creditors fearful they won't get first bite of the cherry, and that shareholders might move for receivership.This might explain the fanciful claim that they have over 100 months of credit available.
Note how there will be less than 5•5 million dollars available as the company plans on keeping 1•5 million for themselves for the future.
Judging by the number of deals & creditors, not all are going to be happy .
Look at the list if creditors and add up all up the millions owed by the company & you might summize their will be a lot of 'unhappy campers' who are going to end up with shares, in a company with little money and no projects - pretty near a shell.
So far they have claimed they have access to a sqillion months of credit , whilst attempting to sell their sole project for a small fraction of what it cost. It looks like a liquidation .
They wiped out the financial interest of original shareholders with the consolidations & the share register is dominated by the financial lenders they did deals with , so the original shareholders will figure little in the vote .
Probably the most unfair aspect of this , is the company is trying to secure 1•5 million cash whilst requiring smaller creditors accept shares.
PS , just my opinion as a long term shareholder

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Just a question
You had the opportunity to sell and didn’t
Why?

CLZ Price at posting: 0.1¢ Sentiment: Sell Disclosure: Not Held
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