I also feel that the Independent Experts report that they are intending to release to justify the sale of Maitland will be quite useless as it will only base it's conclusion on the information they already have ie. drilling done to date and not the potential of the project ie. future drill results and extentions of the deposit.
After all, it is the potential of Maitland that David Richards has been talking about all this time. Quotes from his announcements include the following:
- Good continuity - System open at depth - Strong mineralisation - Looks like it's continuing to the centre of the earth
I'm not a geologist but even I know that the above implies that the project has potential. Why else would Kagara buy nearly 20% of Glengarry and then buy Maitland. Surely there is something they know or have found out that we haven't been informed about.
An investigation into this matter is clear warranted but I have a feeling that the matter may be too small and too difficult to prove for ASIC to look at.
Maybe Kagara threatened to take over the company and get rid of the directors if the sale did not eventuate. By the selling Maitland, the directors get to keep their jobs and live comfortably with their high salaries!!!
I really hope they have a good backup plan already in place cause the share price is not looking very healthy.
GGY Price at posting:
0.0¢ Sentiment: None Disclosure: Held