Abyssinian is an unlisted company that made a lot of promises...

Abyssinian is an unlisted company that made a lot of promises and did not deliver. Argonaut besides losing money is probably more pi#ss*d off that an IPO never happened where they could participate and sell more shares.

Have a look at the X64 which is a listed company. I googled 249d and came across it today before this YouTube video by coincidence. A gold money with a gold mine in a foreign country without control of the local entity. Remind you of anybody. In the X64 case, they only had 40% equity, so there is a reason they got into trouble. While FFX had 80%, the other shareholder was the government, so that 20% has a lot more pull.

A big difference between X64 and FFX is that most of X64 assets are held by the local subsidiary in the Philippines, and why they went into administration shortly after the 249d action.