This is extremely bad news. Contrary to
@yanlin's post we are most certainly not still in the running for bald hill whatsoever.
On the application by the Proponent, on 24 November 2020 the Supreme Court of Western Australia made Orders (copy
attached) varying the terms of the DoCA such that no transfer of Shares was required in connection with effectuation of
the DoCA. Following the Court orders, the Proponent directed the Deed Administrators not to transfer the Shares.
Accordingly, approvals from the Australian Securities and Investments Commission, and from the Foreign Investment
Review Board will no longer be required. The remaining conditions precedent to effectuation of the DoCA have been
completed or waived in accordance with its terms, and the DoCA will effectuate on Thursday, 3 December 2020, and our
appointment as Deed Administrators will terminate.
This means it is all over. Alita is now owned by Liatam Mining which is an ASIC registered Subsidiary of CHEL. CHEL are the new owners of alita not just the financiers.
Why the hell did the Supreme Court of WA just opt to remove the need for FIRB approval at all this is downright theft. A billion dollar asset snaffled up under our noses for peanuts by the Chinese. Absolutely disgraceful.
