WOW what a bummer
Im no lawyer so not going to get into this, IS IT a contract or IS IT NOT it a contract from a legaly binding perpective
personally from my research into this unless you are privy to the details of the MOU there is no way you can call it either way
Myself and a very close friend have some respectable numbers in ESI and today i must admit has to be one of the shi!!iest days i have had in a long time, whilst trying to keep my expectations under control especially after what was the Tripartite DEBACLE i really did not expect today's reaction.
So today whilst trying to put all this into perspective and talking to my fellow holder and going through things and reading the positive and the bagging going on in this thread
I tried to put myself in the shoes of our two board members displaying these MOUs
Firstly lets look at Ashley Moore this guy is or has been living in India for a number of months now as far as i am aware, he has sunk from memory close
3-4 years of his annual salary back into ESI through his purchase and conversion of options, He has jumped through every hoop the Indians have asked of him to try to bring this deal to fruition
Secondly Glen Fozzard personally i must admit, have never met the guy but have never really been an avid fan from the earlier days but there is no denying this guy has a head on his shoulders, and he to i believe has worked relentlessly since borrowing his 50k for the oppis to actually coughing up
$500,000.00 to convert his oppis also to support the company going forward
So today i tried to put my disappointment to one side and think after all the B/SH!T HOOPS these two guys have gone through to take this company to this point and stand there in Canberra
with
SOMETHING I DONT KNOW EXACTLY WHAT
and have to see the aftermath @ market today and some of the garbage written on this forum after 4-5 years of negotiations
Just put yourselves in their places today its an absolute disgrace
Is there any wonder companies from Aus are forced over seas as in total lack of investment Australian calling Australian this forum is a classic example, we should be abusing this government for not supporting Australian innovation in the first place not the two men standing proud front and centre
In all sincerity i congratulate our board members
I know i only mentioned this post of mine the other day but i do believe its not to far fetched
Date:21/01/18
Time:23:55:01
Post #:
30452794
How much longer will this drag on time frame after time frame moved back also within this same post not that i am calling the same situation here but it nevertheless is NMDC and reads as follows
15/09/2011
NMDC Offer Received
Legacy Iron Ore Limited is pleased to announce that, following the signing of
a Memorandum of Understanding in May 2011,
a formal binding offer from the Indian government owned National Mineral Development Corporation Limited has been received
NOTE
NMDC signed an MOU in MAY 2011
and LCY
Received a BINDING OFFER on the 15 Sept 2011
Now we can all take from the above what we see fit i dont intend going anywhere as yet, been here to long to bail now, just hope i can hang onto my shares long enough for them to see true value
Here,s to the not to distant future, ink a lucrative deal with Energy Australia to get things under way in our own back yard
Its not our board im over its the F*N Indians no racial slur intended
GL all LTs
(20min delay)