IMO, what a crap and unprofressional press release by the so called major shareholders of BMG.
Firstly, they explain that BMG is Bonython Metals Group and CAP is just CAP.......? Just incase the author of the announcement does not know, CAP is Carpentaria Exploration Limited.
Secondly, who could these major shareholder be? Perhaps Mr and Mrs Hillam? After all that has happened in the courts, I very much doubt ASI would have signed off on this announcement.
Thirdly, the announcement has a streak of desperation to it. Is the message: yes, we have had bitter internal disputes for the last 12 months, yes, we have been in legal action with our important chinese shareholder because we misused company funds, yes we have received a court order to wind up BMG but against all this, we are good to go and are confident that the Federal court of Australia will overrule the current order.
Eitherway, 15th May is still the line in the sand. The bit about committing to the BFS has surprised me a bit but the $25 million still needs to be in CAPs bank account by 15th may, which at the current shareprice, would put us at cash backing...........which is ridiculous.
I do not want to act in a premature manner and speculate but IMO some major shareholders of BMG are in a desperate situation and are acting accordingly.
CAP Price at posting:
30.7¢ Sentiment: LT Buy Disclosure: Held
