The Largest shareholder in NTU (20 percent or more in real...

The Largest shareholder in NTU (20 percent or more in real terms), is Ferrum Crescent (ASX:FCR), via the old Washington Resources Ltd.

The thing is, Ferrum Crescent is apparently Broke.

On the 4th of August Ferrum Crescent was served with an Appendix 5B Query Request by the ASX.

Ferrum Crescent issued ASX 5B

The ASX raise an Appendix 5B Query Request against a company when they can not see how the company can fund it's activities for the next quarter.

Basically, the company is almost broke, but it owns (in real terms) more than 20 percent of NTU.

Ferrum Crescent have not said to the ASX what capital raisings they have planned or proposed, only that they are undertaking them.

They have said they may raise capital by listing on the AIM, in which case they are dreaming, and completely incompetent, simply because it costs to list on the AIM, and so would initially have the opposite effect of raising capital, in fact it would burn more capital, and in so doing, burn the company.

This very statement of intention tells us that they are hiding something, and is very suspicious indeed, or exceedingly naive.

It would seem that FCR and NTU are run by complete financial incompetents, but then who really knows.

The sale of 51 percent of NTU to the Chinese conglomerate ECE will save Ferrum Crescent (ASX:FCR), probably from insolvency and administration.

Ferrum Crescent will vote for the sale to the Chinese ECE.

Is this a conspiracy theory? Maybe!

After some research into NTU, into their associated companies and individuals, things appear very murky, and there is more to discover yet.

There is more research we have not listed here, the financial relationships get complicated, and involve tax free havens and other entities.

The Australian Foreign Investment and Review Board (FIRB) should be interested.

Gw