Creditors Meeting Today - It's Over

Bad news guys it's all over the Creditors meeting today have voted for the MIN deed of company arrangement. So basically this holds off liquidators and importantly, sadly no auction which was they holders best option. What a truly well played company MIN are. Big guys get bigger, little holders lose everything.

Unfortunately they now get all of EGO except the shell, I might buy it for $1, at least I can still be apart of EGO LOL!!!

They have now everything at a agreed price as per deed to creditors and some of those creditors would be ex contract staff and ex staff of EGO imo. Some imo will probably be contracted again to the new look MIN O/G arm of the company, sad isn't it we lose they simply move on. Some might even end up working within MIN in coming weeks imo. I doubt MIN would employe our team, wonder why that is, imo.

Very sad but smart aggressive play by MIN to get what they wanted. Our team have certainly been out played big time imo.

No one imo cared about the EGO holders especially our board imo. They ignored all our requests and advice over these years and look where we are from what they ultimately delivered to us!

I was always concerned but not surprised why MIN never took a board position and left this team to run this company into receivership, most of us were concerned about the loan/debt/waiver etc and of course the silence from them. Verb wouldn't have done this and Marshall wouldn't have run this to Rx'ers. The irony of it all.

I urgently tried to get funding so we could buy out the loan debt, funding to allow EGO to raise 2 mil to get well working again, proposed a new board to get into the company ASAP to get loan/waiver docs etc, tried to get the biggest holders to assist me in getting the Administrators to delay the MIN proposal so we could if all failed go to auction and get the highest price which may have left some over to pay holders or even better protected us in retaining our valuable north basin tenements so we could go again as an explorer and get company moving again under a new team.

BUT unfortunately time ran out and MIN with creditors and administrators restricted time frame, have now ended any hope for holders. Well done for a perfect play by MIN. Sadly the aggressive move by MIN which was in their right and no one caring about holders only the creditors, time has sadly beat us all. Today every single holder has lost everything.

What I find hard to accept is our team who sent us to rx'ers, absolute world class team, hope those board supporters are happy now they supported them. Interesting on a side note that our chair never turned up to ERM AGM yesterday, imo maybe he didn't want to answer difficult questions re EGO how under his chair sent EGO into receivership and none of the board stepped up a fight to MIN to protect holders imo. Just a terrible, grossly unfair situation and progression of mistakes, failures and events.

Well all that is left now for holders is to enquire about legal advise/action taking the fight to Directors Offices Insurance. This is what I and some of my supporters will seriously now be forced to consider. Taking legal action is all what is left as it would be extremely unlikely that MIN will reward us holders in some form, they certainly don't have too do they.

Sorry guys it's just a terrible day for holders within this basket case of a company. Lot's now to consider guys all up to you all what you do now. I will personally continue legal options with fund litigator etc. All the best to holders and not to our team. Absolutely PO and angry.

It's ironic the one holder who has fought so hard over all these years to protect his investment and all holders aswell and keep this company from failure and tried hard to suggest plans but fell on death ears and recently was blamed by one poster of brain washing holders. Well that idiotic post certainly didn't come true did it. Your team has officially sunk us I didn't, one good thing is I don't have to see or read those stupid posts again. Bye all night shift to do.