ok... setting (essential) humour aside..
Annual Financial Report Item 1.
Note in the Call documentation SXX claimed a full 5% of Bigrlyi.
EME in January claimed SXX owned only 4.2%. Neither claim was qualified.
Both were outright statements of % ownership, and neither referred to any Agreement that may or may not have influenced their claimed %'s.
Now unless we live in parallel universes, they cannot both be right.
What SXX should have said in their Call Documentation was .. Bigrlyi 5%, subject to formal completion of the agreed settlement. The fact that it omitted to do so and by omission appeared to be saying "Oh we have a clear 5% of this great Uranium, no worries mate" was a serious omission, in my view.
It is no defense IMO (as attempted) to say "Oh yes but we have referred to this matter of the ownership dispute somewhere earlier." and tried to brush it off. When you are caught, you are caught!
Note in today's Accounts Statement it is referred to guardedly "This issue has been agreed to be settled"
The point is it has not been actually settled!!! so this statement is also a non-statement, if you see what I mean... which I kinda resent.
The same principle applies to EME. !
If you have a percentage of something and that % is influenced by the outcome of an agreed to but as yet unsettled action, then the ownership is still technically in dispute.
When you make what could well be considered by some less-trusting persons as deliberate and misleading omissions in Call documents that are essentially soliciting money! then well....you know what follows without me saying it....
As an SXX shareholder I hope this all just goes away..... but it proves that even in small companies, you are being watched by shareholders who are not afraid to call the regulators for a friendly chat...
I did not have to post this... could have gone shopping instead, more productive for me! but if you gain some insight as a Fellow Shareholder in SXX (or EME) then I hope you at least appreciate me doing it
Honesty comes first, IMO, even ahead of any self-interest or in the end you wind up not trusting yourself....! yikes! :)
ok... setting (essential) humour aside..Annual Financial Report...
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