Except that the self appointed directors are working for the good of MIN not the shareholders. If you think there will be $25M left after ATO takes their cut with interest I have a bridge to sell you. By accepting liability for the tax owed to ATO shareholders are accepting the costs of rehabilitating the mine site which will run into tens of millions of $. In the absence of Mike FQue the tax liability rests with liquidators who allowed MikeFQue to dig and ship around $1B worth of spod if ATO's assessment is correct. Then there is CE who bought the subsidiaries with warts and all for the lowly price of $260m in a secret deal with the liquidators despite figures of up to 5x as much being thrown around if a sale occurred on the open market.
IMO your points 1, 2 & 3 are just wishful thinking, same as some of the speculations expressed here by other wishful thinkers just 4-5 months ago that we could see a sale price of $1B or more and a return to shareholders in the order of 10c to $1+ per share. The sale at that low price included all liabilities so don't see why the shareholders should be contributing anything, specially since we did not see any of the income.
The vote is not binding anyway but IMO voting AGAINST will see us no worse off then voting FOR and possible better off if ATO decides to go after the liquidators and/or CE for the $203M + interest owed. At the very least the ATO and other gov agencies may get off their ar$e and look into how the shareholders got scammed by CCP backed companies and ripped off by Aus liquidators. I'll be voting AGAINST.
A40 Price at posting:
8.2¢ Sentiment: None Disclosure: Held
