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0.6¢ gulf manganese corporation limited

Excellent news! The money flow needs to be investigated....

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tt2000

4,684 Posts.

1231

07/12/21

21:27

Post #: 58141580
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Originally posted by Sam.john ↑

The amount of money paid to Glacier was 350,000 euros, about $500,000 AUD. The administrators are still investgating further over this transaction, and have asked Glacier to pay this money back, however Glacier has submitted to the administrators that the deal is still workable for a further payment. The administrators have notified ASIC, and on ASIC's formal advice, they have submitted it to the Fraud investigation squad at the Australian Federal Police, which the administrators have done.

My source of this information is the report from ASIC dated the 12th october 2021 the Voluntary Administration Report And Statement Of Administrator's Opinion Copy Of Report And Statement (530A).

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Excellent news!

The money flow needs to be investigated.

Including the disappearing debt.

It's a shame that shareholders will end up with nothing, but accountability needs to occur to ensure this doesn't repeat in the future

GMC Price at posting: 0.6¢ Sentiment: Sell Disclosure: Not Held
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