CBX cape alumina limited

Pisolite Hills is not dead in the water yet. FYI, MTE acquired...

  1. 6,072 Posts.
    Pisolite Hills is not dead in the water yet.

    FYI, MTE acquired 57% of CBX predominantly through frustrated and cash starved shareholders.
    Around 7% acquired from convertible note conversion for $1 million (.06 cents per share) from ballsed up Scheme of Arrangement.
    Another 39% from a Fund (RCI) that wanted some cash for $570,000 (.006 cents per share)
    Then another 11% from Metallica for $162,000 who was desperate for any sort of cash (.006 cents per share)

    So MTE has 57% of and controlling stake in CBX.

    Total investment in CBX is therefore circa $1.73 million. Not a bad investment thus far if you look at CBX market cap.

    CBX is really effectively just a company with no right of say - all decisions made now by MTE.
    Why do you think Scott Waddell moved over from CBX to MTE?

    Anyway, go bauxite!

    Even a bunch of clowns could run MTE/CBX and have it trading at it's true value but there you go!!!!
 
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