Prospectus: Missing and misleading information and risks

NewPeak has problems it will not disclose in the Prospectus or regular releases or reports
Prospectus:
https://hotcopper.com.au/threads/ann-non-renounceable-issue.7478446/

1. Prospectus states page 55, paragraph 9.9.

"Litigation
The Company is not engaged in any litigation which has or would be likely to have a material
adverse effect on either the Company or its business."

There is no litigations against the Australian(?) Company?

There legal process for the number 1 Argentinian project Las Openas
and ownership of the Argentinian projects
https://hotcopper.com.au/threads/ann-purported-termination-of-joint-venture.7465660/

"6 July 2023

Purported Termination Notice
NewPeak Metals Limited (NewPeak, NPM, the Company) (ASX: NPM) advises that it has received a
purported termination notice from its 49% joint venture partner Genesis Minerals (Argentina) SA in
relation to the agreements for the Las Opeñas project in Argentina.
NPM disputes the validity of the termination notice and reserves its rights under the terms of the
agreements in place.
NPM will update the market in due course.
Authorised for Release by the Company Secretary"

Interesting part is also 51% ownership of the Las Openas project

NewPeak (and with previous name Dark Horse) has indicated about Argentinian gold projects:
100 % ownership of Las Openas and
95 % ownership of Cachi
see for example slide 5
https://static1.squarespace.com/static/592f6029414fb58c4df2bb8e/t/5cdcefe7652dea332d0e533a/1557983236986/DHR+Ladu+Perth+May+2019.pdf

However these have been only options. In 2022 NewPeak informed of keeping 35% ownership of Cachi and working on alternatives for Las Openas. This was actually release that they have failed to get 95% of Cachi.

"The Company is holding its position at 35% in the Cachi gold project and working on alternatives to progress the Las Opeñas gold project."
See page 2
https://npm.live.irmau.com/site/pdf/ffab1801-541b-4fd5-b613-f06ba4efbdd6/Quarterly-Activities-Report-June-2022.pdf

Company has not directly indicated that it has failed the terms of options to get 95 % of Cachi (remaining at 35%) and 100 % of Las Openas (having possibly 51 %).

The option for 100 % of Las Openas appears to have been expired summer 2022 (3.5 years from January 2019)
It would have cost a fraction of 880 000 USD + 90 million shares, but apparently they were out of money
https://www.spglobal.com/marketintelligence/en/news-insights/trending/CAh-BSjmu4JZu2bd8hrFfQ2
Apparently NewPeak has failed 3. year payment 110 000 USD for 75 % and
3. year 800 000 USD expenditure payment
https://npm.live.irmau.com/site/pdf/38c0adf2-96b4-4ef0-aa9f-61c98c1c96e3/Dark-Horse-Secures-Further-Gold-Project-in-Argentina.pdf

NewPeak has repeatedly marketed the projects as it own without indicating the ownership.
The last strategy information Q1 report 2022 indicated the Argentinian projects and especially Las Openas were priority,
Options to get 95% of Las Openas and Cachi were indicated in the Tables page 9 and 10 of the quaterly report

"The Company has made a strategic decision to focus its main expenditure on the
Argentina gold assets, particularly the Las Opeñas Gold Project, which has been internally assessed as
the most prospective project."

Page 2, Q1 2022, https://npm.live.irmau.com/site/pdf/12265b81-7b1d-4286-aa4d-bc221b12cb25/Quarterly-Activities-Report.pdf

This may also affact the due diligence of the "Hombre Muerto South"-
deal where the Argntinian assets + 1.5 million USD should be given to Southern Cross Britannia Ltd (SCB)
to get 25% of a very early stage lithium project
https://hotcopper.com.au/documentembed?id=uOMxKKzFkiWRTLKhOROKAxjvSDYL5wu4wBDzv%2Flp8rFiGug%3D

2. Tenements
Information about tenements is lacking from the Prospectus

The Prospectus states (page 39)
"All granted concessions and tenements are currently in good standing and in accordance
with normal industry practice."

For a long time most of the Finnish tenements were all non-granted (see my previosu NPM postings), one major permit has been cancelled by court and returned to permit authority also cancelling its transfer from Sotkamo. There are on going challenge in administrative court against Hopeavuori project, which has been indicated as the major gold mineralisation in Finland.


General comments
This company and directors do not tell about problems and risks or the legal status of the projects

In Finland the company appears not use a legal consultant and geology consultantis appears to be quite ignorant about legal and environmental issues.

Prospectus is difficult to find. It should be on the company page but you cannot find it looking for Prospectus or in the investor information.
It is in the releases with name Non renouceable issue
https://hotcopper.com.au/threads/ann-non-renounceable-issue.7478446/

Shareholders could report the missing and misleading information of the Prospectus to ASIC
https://asic.gov.au/about-asic/contact-us/reporting-misconduct-to-asic/make-a-report-of-misconduct-to-asic/