I just spoke to our illustrious company secretary (Carl) about the sale of Granville. Carl was very vague about Ten mining. He did say that "someone McKendrick" was the owner of the company. I questioned Carl further on this and the fact that he didn't even know the name of the owner of Ten Mining. He said that was the job of the CEO.. I pressed him further about this and his attendance at company meetings and the sale of Granville being a significant topic. One would expect that the information would be known and easily recounted.
Carl also went on to say that company only receives a touch over $300k for the sale of Granville. I probed further about the value of the asset, being the infrastructure and developed over the years. He went quiet.
I pressed Carl on section 11.2 and 11.3 of the Asx listing rules and the "disposal of main undertaking", being the Granville was/is their only potential flow of income. He stated that Granville is/ was not their main undertaking, Taronga is.. He went on to say that management did/ could not see Granville as a viable asset. At this point I implied the total mismanagement of the company and resources associated. Carl did not dispute my claim.
What a farce... These Mofo's are criminals..
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