CKK were in talks with Terratherm (including a certain WS who was a director of Terratherm and owner of Globe Drill) about a buy out.
Then all went quiet and suddenly a deal was struck with Cygnet and Globe Drill direct. Thus cutting TerraTherm out the deal completely.
I believed in the whole project, got involved at the Terratherm stage, bought into Coretrack but the whole affair left a bad taste.
Really IMO the complete lack of consideration for shareholders in all dealings surrounding this rig means that until there is a clean transparent company structure with the IP and physical asset owned by one entity all moving in one direction all trying to better the company and shareholders returns this rig is never going to work.
Just my observations and opinion.....just such a shame this has turned out like this but Coretrack were warned.
CKK Price at posting:
2.4¢ Sentiment: None Disclosure: Held
