Sabine, your research takes me back again to the experience with highly skilled (and intelligent) Hot Copper Posters referenced in my responding Post on the thread - “Further High Grade Copper Intersected at Zone A prospects”.
I respect the standard of your posts and what you are doing – particularly as you no longer hold shares in ERL.
You also try to keep on subject, unlike Fingers xed who posted “BRIMSTONE Lights New Fire in spat” and Wolca introducing the subject of Penny’s Find Free Cash Flow – wait for it – on the totally unrelated “Further High Grade Copper at A Zone thread! Makes it hard to follow.
There are many similarities between the past and present and incredibly the behavior seems to be acceptable to the regulators, or passes unnoticed.
For example, I find it incredible that to list a public company requires Millions of dollars and hundreds of shareholders and yet you can remain on the board with less than $20,000 in the bank and liabilities you need a pole vaulter to jump over.
Our scaly mates had the audacity to state in the 2015 AR that they (and sadly, the Exploration Manager – in a big operation like Empire, with so much going on, you obviously need two retained highly experienced geologist directors and an additional geologist Exploration Manager) were prepared to waive their fees ($282,080) and the Exploration Manager’s entitlement of $254,005 – but wait for it – “payment of these invoices and entitlements would become contingent on ERL receiving additional funding in excess of $1million.
Hull – Low!!
You mean get some (new?) shareholders to put in a mil and the first $536,085 pays the arrears fees????
You’ve got to be kidding – and someone else must have said the same thing because on 3-05-2016 an EGM endorsed an options for cash swap.
The more we dig, the more of the same turns up and none of its impressive.
None of it says the current team will win a Premiership.
So, where to now?
BTW my early history on ERL comes from the Investigating Accountants report in ERL’s prospectus dated 7 Nov 2006 which I got from Google - “Empire Prospectus – Empire Resources.
ERL Price at posting:
1.6¢ Sentiment: Hold Disclosure: Held
