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clock Created with Sketch. 21/03/23
14:10
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Originally posted by Mentalist123:
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My broker in Brisbane rings me.Says “are you interested in taking some shares in a company calledTrue-north -Copper.”? Apparently he says! True-north -copper,doing a back door listing (whatever that means?)with ASX.. DEX. Duke Exploration.He said True north and Tombola have some common Cloncurry adjoin areas.He sent me the DEX announcement they put out on 28th February 2023 describing the acquisition of a True north copper pty ltd.Looks like True North, bought all the tenements fm WH Soul Pattinson,, he said … “they couldn’t sell to Aeris Resources Ltd..”DEX says : True North bought the GAMproject which is where we are processing the Golden Mile ore plus a heap of exploration properties for $800k cash,plus some down the track payments on the never-never! if True north, ever produce any copper.The presentation says “True north bought 3,these, tenements from WH Soul Pattinson in September 2022. Sought of rang a bell!! With me,because I thought TBA bought the tenements from True North in September 2022. Seems, a day or so after true north acquired only 3 of the tenements from WHSP True north sold 3 of them to Tombola for $6.5m. Pretty good dealFor True North buy approx 20 tenements including Great Australia Mine (GAM) for outlay $800k (plus down the track payments if ever in production) sell for $6.5m, but still only outlay cash of $800k and make a profit just from Tombola of $5.7m in one or two days. Wow. Wish we had them running TBA. Seems True north copper,,only owned them for a day or so. So on face of it,seems that dealWas hatched between TBA and True North before a true north even bought them from WH soul Pattinson. Interesting!To say the least.mmmmmm!! My guess, True North may want to take over Tombola? Yes/no? We have no money,just debts and locals reckons another pour this week.But TBA estimates need $10-$12m like yesterday.I dint know where we go to from here. The true north deal with TBA definitely got a bad odur and a smelly set up deal. Maybe I’m missing something?This having a mentalAttack on me! Oh yeah !! as well as True North making a $5.7mQuick profit for True north copper we are paying them $110,000 a month for 6 months for the hire of their $800k purchase of GAM project. So that’s a total of $5.7m plus $800k for True north wow wow wow! Who is going to put money into TBA when we do deals like this?That’s the ten$$ Question! Where to now. !?
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