TYX tyranna resources limited

Syngas made the purchase of the Jumbuck JV unconditional with a...

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    Syngas made the purchase of the Jumbuck JV unconditional with a deposit of $50k to Tyranna in Oct/Nov.
    The remaining $950,000 is still outstanding.
    Syngas have a restructuring going on by the looks of it and they only had $77,000 (yes, $77k) cash on hand as of their 31 Dec report. They also have drawn down on all financing facilities previously made available to them - pls correct me if I'm incorrect on that.
    Their Estimated Outflows for this current quarter are $76,000..No mention of $950k.!
    They had 30 days to complete due diligence from the initial talks in Oct so it became binding by the end of November. I cannot find a date by which the $950k has to be paid but I have a suspicion it will be converted to shares in Syngas' restructuring.
    Tyranna must be fully aware of this if it is the case and it forces them into this CR to dilute shareholders further.
    If my theory holds any water, they will have penalties to pay for NONDISCLOSURE.
    Again, this is just my opinion.
    AE
 
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