Startup venture? It’s hard to consider this company as a startup when its over 11 years old.
What happened to its gold investment startup? What happened to that?
What about its Bauxite mining/exploration startup? How’s that going?
These directors ran CGB as a gold investment company and listed on the 14th January 2008. ASX code AVG if you wish to look at announcements and shareholder commentary posts.
The company does not provide any ASX announcements on their website prior to 2015 but you can still see them on HC up to a point.
These directors also run CGB as a Bauxite mining/exploration company. You can look at announcements and shareholder commentary under ASX code QBL. You can look at the prospectus section 7.6 to see the companies intention for its mining endeavours. https://www.canngloballimited.com/investor-centre/asx-annoucements/
From the prospectus
“7.6 Mining division
Following completion of the Transactions, the Company will also focus on progressing its Bauxite assets to commercialisation. CGB's strategy in this regard is to:
(a) define significant bauxite resources close to port and near established infrastructure;
(b) short list potential joint venture partners;
(c) gain requisite approvals;
(d) establish mining operations;
(e) export bauxite ore to Asian alumina refineries;
(f) use initial DSO cash flow to fund further exploration and DSO production expansion; and
(g) acquire or joint venture other mining projects of value to the Company.
There is further documentation in regards to its mining/exploration activities but it hasn’t posted a JORC since 2013-2014 but claims it is progressing its assets to commercialisation?
Anyway, good luck with your investment. Like anther poster commentated, maybe third times a charm
CGB Price at posting:
2.3¢ Sentiment: Sell Disclosure: Not Held
