dourado under srutiny by asx

Firstly, I'm not downramping. I am still a holder and believe by all reports that DUO have a lot of potential however from past experience it does concern me when i here the name Dean Scook in relation to any of my current investments. And it appears by this report in todays Australian he has quite a large interest in DUO

Comments welcome please

The Australian March 05, 2010 12:00AM

DOURADO Resources has again attracted the scrutiny of the Australian Securities Exchange, which is examining its proposal to acquire a private mining company with links to convicted market rigger Dean Scook.
The Perth company's acquisition of North Minerals, whose largest shareholder is financed by a Scook family company, comes three months after it agreed with shareholders to restrict business dealings with the tenement dealer, his wife and children.
The Australian revealed yesterday that North Minerals' sole shareholder until recently, Bronx Transport & Logistics, is financed by a company run by Scook until he was jailed in November 2007.
The financier, Grand Enterprises, remains registered to Scook's office in Perth and is ultimately owned by Scook's daughter, Amy Taylor, and Cameron Hardie, the son of his long-term business partner, Carol Hardie.
Dourado managing director Peter Del Fante has not returned phone calls this week. A lawyer acting for the company, David Sanders of Lavan Legal, said the acquisition did not contravene the agreement not to have business dealings with Scook.
In November Dourado agreed not to issue shares or acquire further assets from the businessman, after the ASX held up its float on concerns about the businessman's influence in the company.
The agreement extended to his family members.
Mr Sanders said Bronx Transport & Logistics was no longer the acquisition target's sole shareholder. Australian Securities & Investments Commission records show North Minerals issued 49 million shares to several new investors last week.
Those investors include Mr Hardie and a company controlled by Ms Hardie, who has served as a co-director in many of Scook's business interests.
Bronx Transport & Logistics remains North Minerals' largest investor, with a 20 per cent stake.
ASX spokesman Matthew Gibbs confirmed that the planned acquisition, subject to shareholder approval, had come to its attention. "There were conditions placed on Dourado's ongoing association with Mr Scook and we need to understand what this proposal involves," he said.
The Scook family holds a substantial stake in Dourado since it acquired mining tenements from a Scook company, Whitvista, last year.

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abdm

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