MBN Class Action2, page-180

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bthotcop

7,922 Posts.

30/09/15

06:19

Post #: 16084508
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Originally posted by dappaT ↑

i think you are getting his grammar confused here mate, he means that $16m spent in 6 weeks if worked on a pro rata basis ends up being $66m in 52 weeks, although they could probably defend this simply by saying due to the increased production, the tailings dam needed raising sooner than expected and by more than expected, its not a precise science. Also there forecast CAPEX is a forward looking statement and it never schedules what increments it might be utilised in, had they continued as a "going concern" they would have very little capex for the rest of the year so may well have come close to the forecast figures or atleast within a reasonable margin of error.

As for your response to the Trading Halt comment Tomboy made I believe you have mis-interpreted his grammar again, he is stating that the market should have been properly informed of the financial circumstances (full disclosure of just how grimm the situation is, if indeed it is that bad) and that there should not have been a TH or suspension from quotation and trading should have been allowed to continue therefore allowing Share holders to recoup some of there investment.
But ofcourse as has been stated in discussions already I am of the understanding that the Directors could be held liable if they allowed the company to continue trading on the ASX whilst knowing they were insolvent.

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Well,
MBN one has taken the last of my investment capital.
I have nothing left to trade with.
I have a huge mortgage on my house and now no job.

My last day at work today.
I had planned to spend the long weekend on Fraser island camping with a mate,
But found out yesterday that his caravan burnt to the ground taking everything with it.

Talk about being kicked in the head while your down.
I am still waiting for the knife to go into my back and get turned a few times by MBN.

keep up the fight

MBN Price at posting: 8.3¢ Sentiment: None Disclosure: Held
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MBN Class Action2, page-180

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