Let the Horses do the thinking because they have bigger heads......, page-126

What was their response Rob if you don’t mind me asking?

My concern is RR1 invested $1.8M with REEgenerate Pty Ltd to subscribe for 10% of the outstanding share capital. If $1.8M buys you 10% of REEgenerate Pty Ltd in March 2022, you could conclude REEgenerate was worth ~$18M at the time? (unable to determine accurate EV as we have no idea of any debt REEgenerate Pty Ltd may have / had).

The reason we have no idea about any debt REEgenerate Pty Ltd may have is that they are a private company limited by a private share registry. A company which was incorporated in Australia on Oct 08 2021, and registered with an ABN on the 1st April 2022.
Other than the acquisition of the Coconut Club (Quebec) REE property in early December 2021 from Globex Mining Enterprises Inc. for a measly ~$35K AUD, and the 100% acquisition of REEcycle Inc for an undisclosed amount in April 2022, we have no idea about this company. They have no website. According to LinkedIn the director of REEgenerate Pty Ltd is somebody named Edmond Tan?

Despite allegedly owning 10% of this company, we have no idea about how they are performing, surely this should be reported in the Annual / Quarterly?

Who founded REEgenerate Pty Ltd?
Who are their major shareholders?
How are they performing financially?

We should be receiving an annual report with full disclosure on their operations. We are in the dark, all we get is “REEgenerate is still in the process of raising its next round of capital to fund the upscaling of its plant (from a 75kg demonstration plant to a 400kg commercial scale pilot plant)”

What are we getting for 10% share in REEgenerate Pty Ltd??