The secured lender of the Skardon plant asset is the St George...

The secured lender of the Skardon plant asset is the St George Bank for about $ 8 million , Meridien has covenants in respect of the lease tied up with the bank loans .The valuation of the plant and assets by Hall Chadwick which Alexander manipulated to con the bank and the lease co is the basis of the grand fraud of SR . This has to go down in the annals of Oz corporate - mining swindels as one of the biggest . Add the $ 120 odd million from Australian Kaolin to the $ 130 million of MSC and we have about $ 250 000 000 of duped investors in this scam .Investors have been warned since the early 2000s not to touch Alexanders mirage starting with the series of Pierpont articles in the AFR from 2002 . The cost of dismantling the site and scavenging the plant will be way more than the scrap value. The shareholders,debenture holders,convertible note holders are all shredded . Alexander has scammed millions in fees and expenses to finance his life style . If Rene Rivkin was put out of business for a few thousand bucks where is the justice in dealing with frauds like this where millions of investors dollars have been scammed .The ASX is a laughing stock with its ASIC poodle .