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0.6¢ merlin diamonds limited

Axis was the name, Merlin operated out of their offices, same...

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Cridz

975 Posts.

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21/05/21

13:55

Post #: 53332810
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Originally posted by HotRods65: ↑

I'm not sure it was straight up theft in the eyes of the law. If you were to look at the annual reports you'd notice the very high admin service fees charged to the company from their other company(can't remember the name) the loans were made too. Reading this admin arrangement combined with the con notes lucky stopped me buying. I bet Joe's sister will get most of the sale proceeds being number 1 secured creditor.
I think the admin fees/service cost may have =ed loan repayments or offset against the loans.

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Axis was the name, Merlin operated out of their offices, same directors and employees.
Hopefully ASIC are just waiting on details from the liquidators before progressing?

Would also seem the Merlin mining lease sale is going through as part of the Lucapa trading halt.

MED Price at posting: 0.6¢ Sentiment: None Disclosure: Not Held
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