If it is a mars mining deal and ASIC and CGB shareholders...

First 73 Last

Share
Profile

Follow
workingdog

1,567 Posts.

221

09/12/22

13:43

Post #: 65242613
Share

Originally posted by Luke164: ↑

I'll put it this way - if there is an attractive mining investment that could triple your money over say 2 years, would you put it in your own company and take the totality of the gain, or put it in a company where you only have 2 or 3% ownership? That's the choice predicament they have potentially put themselves in. Your opportunity as a shareholder to participate in this project may have been taken away because others value their own interests over yours, even though they may have a fiduciary duty to act in your best interests as a shareholder of the company which they are a director of.

According to news releases, Mars Mining Limited has committed $500k to a JV project. Let's say the directors/shareholders have come up with this funding themselves (again, in conflict to the issues in the prior paragraph). 12 months later they turn around and say 'hey, we want to sell Mars Mining Limited to CGB for $1m - you could make a potential $500k (if the original investment triples) but we get to pocket the first $500k return for this'.

Yes - a 50% return is nice if it is achieved. I am not doubting that.

But in this case you've been ousted of a further $500k return too when - if acting in the best interests of shareholders - the original investor should have been CGB anyway.

Expand

If it is a mars mining deal and ASIC and CGB shareholders approve it, that's all that's needed presumably?

They took mining off the website so it doesnt look like its that anyway.

I'm confused but I'm kind of excited about the mining stuff now and its probably got nothing to do with us.

Last edited by workingdog: 09/12/22

CGB Price at posting: 2.1¢ Sentiment: None Disclosure: Held
1 Upvote

0 Great analysis

Reply

Top Stories

MDI

Nanocap Middle Island Resources kicks off Barkly copper-gold drill run – a potential IOCG-style NT project

NIM

Nimy to raise $1.21M to explore 'newsy' WA targets

Week 27 Wrap: ASX hits all time high; CBA shares' two realities; US inflation hits 3% ahead of China plenum

SKS

SKS Technologies wins US$90M award to supply power to international hyperscale data centre in Melbourne

IMM

Immutep reports strong response rate from immunotherapies treating carcinomas

ASX hits all time high out the gate on Friday trades following bullish US inflation data

I88

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

BHP

BHP dips as WA nickel suspended after A$6B hit; losses eased by US CPI and forewarning

Bitcoin investors need to know the risks

AII

Almonty locks in govt agreement for tungsten oxide plant in South Korea

There are more pages in this discussion • 164 more messages in this thread...

First 73 Last

Add CGB (ASX) to my watchlist

If it is a mars mining deal and ASIC and CGB shareholders...

Top Stories

Nanocap Middle Island Resources kicks off Barkly copper-gold drill run – a potential IOCG-style NT project

Nimy to raise $1.21M to explore 'newsy' WA targets

Week 27 Wrap: ASX hits all time high; CBA shares' two realities; US inflation hits 3% ahead of China plenum

SKS Technologies wins US$90M award to supply power to international hyperscale data centre in Melbourne

Immutep reports strong response rate from immunotherapies treating carcinomas

ASX hits all time high out the gate on Friday trades following bullish US inflation data

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

BHP dips as WA nickel suspended after A$6B hit; losses eased by US CPI and forewarning

Bitcoin investors need to know the risks

Almonty locks in govt agreement for tungsten oxide plant in South Korea

Featured News