From Recent article in Sydney Morning Herald
Fiji land threats!!!
It owns slices of a uranium project in Tanzania, a gold project in the Philippines and a magnetite project in Iran, but none of those ventures have yet paid off for veteran businessman Boris Ganke's Southern Cross Exploration, which recorded revenue of just $414 for the 2012-13 financial year.
Then there's the company's show-stopper asset, a $7 million mortgage over 17 hectares of beachfront property at Nadi Bay in Fiji, right next to the airport runway.
A company associated with Ganke has owned the land for 34 years, during which it has repeatedly threatened to develop the plot and repay the mortgage.
According to the company's annual financial report, filed on Friday, Fiji's habit of staging occasional coups has apparently slowed progress in the past, now ''some development and/or sales are under consideration at this time''.
You wouldn't want to rush things, though.
Interesting how slow things move at SXX
Hot trading
Hot capital
ganke and 34 years of excuses !!
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