Is Delroy and Nero taking your money by Latitude deal?, page-3

Sorry I made a mistake about Latitude getting half of the value/shares.
I looks much worse for DCX shareholders having 18.6 - 19.6 % after the takeover
and public offer, See the announcement pages 28-29.
https://hotcopper.com.au/threads/ann-transformational-acquisition-gold-cobalt-development-project.7934120/
On top of that there is about 10% of performance rights +
some options, capture 1) below

Latitude appears to have left 3 million AUD financing (DCX 0.5 million), but that would last only about one year
in their process.

The other assets of Latitude have been cheap,but 10 million AUD or more has been wasted in building
an extremely large prospecting project. Drilling and new discoveries have been quite limited.

The sale of the daughter company Kuusamo Gold Oy (KOY) by Finnish daughter of
Dragon mining (Dragon mining oy, DOY) to Nero Projects (Delroy¨s private company)
is e.g in Hong Kong prospectus of Dragon mining see capture 2) below.
The price was 400 000 AUD
The name of Kuusamo Gold Oy was changed to Latitude 66 Cobalt oy,
being now the Finnish daughter of Latitude. The final payment was delayed because the locals
sued even the transfer process.

Filing of exploration permit application (malminetsintälupahakemus) costs 40% of the fee of a couple of thousands of euros
latest fee may be 3950 euros for under 1000 hectar permit as the authority fee. For the 60 applications they have paid
about 100 000 euros as filing fees, though their own adminisitrative costs may be several fold higher
https://finlex.fi/data/sdliite/liite/7938.pdf

DCX has a market cap of 6.6 million (Hotcopper), based on the record a critical person could consider Latitude´s value
negative even with the cash (burning well).

Capture 1)
https://hotcopper.com.au/threads/ann-transformational-acquisition-gold-cobalt-development-project.7934120/



Capture 2)
Dragon´s HK prospectus 2018
https://www1.hkexnews.hk/listedco/listconews/sehk/2018/1018/ltn20181018011.pdf