This is what I sent:
To the ASX Compliance Team:
Dear Sir/Madam,
I refer to an announcement made by Austpac Resources NL on 30 April 2021 titled Quarterly Activities Report.
At item 8, the answer to question 2 stated that “The company has received proposals from financial institutions to fund projects for the business, subject to finalising dispute with previous management.” As you can see that the company is hardly solvent and this funding appears critical to the survival of the company. However, as a shareholder, I have not seen any announcement related to the dispute with previous management and how it impacts the potential funding.
I would like the ASX to request further information from the company about this issue so shareholders can have a better idea of whether it is likely for Austpac to get the funding.
