Ann: Webinar with Managing Director - Mt Margaret Copper Project, page-14

because Comet's Ceo and 2 self serving directors gave away there best asset for peanuts to mates for cheap options in a new company code IG6 ,and because they were only thinking about lining the own pockets , they forgot that the ASX has rules (Rule 12) that a company can't own more than 50% of there Market Cap in shares in another listed company.
Since then they are trying to acquire a dud copper mine that Glencore's trying to flog off , for a massive debt and interest bill plus guess what ,plenty of director option's all so the market cap applies with ASX rules again.