CGB (ASX) Q &amp; A only re March Quarterly

Originally posted by Basileus ↑

Good Morning @Neil1959

Are you able to put the following questions to your QBL contact please?

Here is the material (URL links below) that I have used as the basis for my questions.

It is an excerpt from a record from Supreme Court of Victoria - Court of Appeal. This record is publicly available. I have provided two reference sources for ease of reference.

http://aucc.sirsidynix.net.au//Judgments/VSCA/2017/A0269.pdf

http://classic.austlii.edu.au/au/cases/vic/VSCA/2017/269.html

15. "On 24 April 2017, an application made by the applicants (filed 12 April 2017) to vary the undertakings previously given by the Feldmans was heard by Randall AsJ. The variation sought was to enable the Feldmans, as directors of Paradise, to obtain a secured loan of $1 million from Queensland Bauxite Ltd (another company associated with them) for the purpose of funding legal and other expenses of Paradise. The application was refused."
(my bold)

1. Why was this application made to the court and was this known to QBL shareholders at the time?

2. If, the application was approved by the court, what would have been the anticipated benefits to QBL shareholders of a $1,000,000 loan to Paradise?

3. Had the application been sanctioned by the court, what would have been the anticipated benefit of QBL loaning $1,000,000 to fund the "legal and other expenses" of Paradise?

4. Are there any meeting minutes available that demonstrate the resolve of the QBL board and or its directors to use QBL funds to pay $1,000,000 for the "legal and other expenses" of Paradise?

5. Are there any future plans for QBL to loan funds to any other entities that are related to officers of QBL?

6. Are there any plans for QBL to recoup the 'impaired' ~$1,200,000 loan made to Volcan and if not then why not?

7. What benefit, if any, accrues to QBL shareholders of the outstanding, albeit impaired, loan owed by Volcan to QBL?

Thank You

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Bas, I will certainly put this through to the management. You have asked some important questions.

As to receiving an answer, please remember that this is an anonymous forum where members have pseudonyms, not real names. This is why management invited you to direct your questions through personal contact the last time. As my role is to also watch out for QBL's shareholders, I am not sure that shareholders would be happy with the company dealing with these type questions, as relevant as they may be to you and a few others, on this anonymous platform. More suited for an AGM or direct personal contact with the company. If you do decide to speak to the management directly you are free to relay your answers back to the forum. But I will forward your post to management as requested.

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