Finally they have conceded that the King Tut project was {put what ever description in here} but looking through the ASX Aware letter and responses, it looks like there is more questions to come
~ quite amazing actually, that as (self proclaimed) an experienced management team who initially announced that drilling would commence over 16 months ago, they are just going to spend minimal to keep the tenements in good standing.
I wonder if they will have to explain the sudden share price appreciation and daily volume on all of the 3 days prior to the trading halt
to ASIC?
~ with the disclosure in the response to the aware letter, how would anyone be able to explain that after all this time and no progress the share price is where it is at?
~ oh, I forgot -- its because of the
saviours saviour (there is only 1 left) right? and his success rate in other company ventures.
~ you can thank me anytime Joshua
So the company is going from an ancient gold mine to a run down zinc mine in Europe, given the current "greens" climate it may be difficult to get permits approved there as well?, but it is an old working mine that might help
~ be interesting how much they have/will pay for it . . . .
Talk about "deja vu"
~ multiple directors resign prior to the trading halt / acquisition announcement
~ a "new" face of the company is
installed appointed across common companies
~ a change of core business and the company has to reapply for admission and satisfy Chapters 1 & 2 of the ASX
~ a "new" acquisition in a foreign country
~ prior to the halt there is a surge in the share price and daily volume
~ nothing changes, the substantial and large share holders are the same when the previous "cobalt" acquisition disaster occurred
after the previous face of the company was
installed appointed.
cheers
Fun Facts:
making the assumption it is the same Bleiberg Project in Austria as below . . . . .
~ the Bleiberg Project was last mined in 1993, it was closed after the Austrian State Owned mining conglomerate struck financial difficulties
~ last drilling was completed in 1993
~ when in production was one of the largest germanium producers
~ the current owners (acquired in 2020?) haven't progressed any work since.
~ concessions expire in December 2022 but can be extended for 5 years if there has been exploration work undertaken, which to date doesn't appear to have been
~ doesn't give the company much time to get some work exploration work done
~ will need an appointment that specialises in under ground mining
~ will need a director (etc) that specialises in the specific metals to be mined?
~ hopefully they don't come across Environmentalists road blocks that are threatening large projects across Europe (eg: Serbia v Rio Tinto, Serbia v BMM)
(20min delay)