Red flag for me when it seemed clear they could not meet the loan conditions, the main likely outstanding condition being that they had to prove they could repay the loan. That was a clear signal that, for whatever reason, they were not profitable. There was a lot of smoke screening around the resource upgrades and potential sales but the evidence of unprofitability was hiding in plain sight. Agree with you on the breaches of continuous disclosure.
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STRATEGIC ENERGY RESOURCES LIMITED
David DeTata, Managing Director
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