Between ASN and KAS, page-2

Sorry didn't understand what you were trying to say.  But there were some important things you left out about the financial viability of AMR.

Robin Widdup is a director of Lion Selection and is Chairman of AMR.  Mike Brook is a director of Lion Selection and was a director of Kasbah who approved the merger with AMR.  Robin as a director of AMR would have known the perilous financial state of AMR and surely would have discussed the implications for Lion Selection and Kasbah.  The decision to agree to merge Kasbah with AMR must have caused reputational damage to Robin, Mike and Lion Selection - AMR has significant debts and a mine on care and maintenance as its not economical.  Why wouldn't ASIC look at this and investigate the responsibility and obligations as directors and an investment company.

http://www.sedar.com/GetFile.do?lang=EN&docClass=5&issuerNo=00020615&issuerType=03&projectNo=02607324&docId=4085583

KPMG
As at December 31, 2016, the Company had cash and cash equivalents of $5.5 million and a working capital deficit of $1.4 million. During the year ended December 31, 2016, the Company generated a net loss of $13.9 million and had an accumulated deficit of $144.3 million. Whether the Company will be able to restart the Ban Phuc mine and generate positive cash flow is uncertain and depends on numerous factors, including but not limited to nickel prices and potential for identifying and developing further mineral resources.  The Company intends to seek financing to address the working capital deficiency and fund further exploration of the Ban Phuc property.

These factors indicate the existence of a material uncertainty that casts significant doubt about the Company’s ability to continue as a going concern.  The business of mining and exploring for minerals involves a high degree of risk and there can be no assurance that the Company will be able to raise additional funds to meet its exploration plans or achieve profitable mining operations. The Company’s continued existence is dependent upon the preservation of its interest in the underlying properties, the discovery of economically recoverable reserves, the achievement of profitable operations, the ability of the Company to raise additional financing, or alternatively upon the Company’s ability to dispose of its interest on an advantageous basis.  Changes in future conditions could require material write-downs of the carrying values.