ADV 3.23% 16.0¢ ardiden ltd

Legal, arguable but who wants to pay to test it in court.Moral,...

  1. 2,953 Posts.
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    Legal, arguable but who wants to pay to test it in court.
    Moral, good question, ill leave that to individuals moral compass.
    Questions for a court.
    Did the BOD act in good faith on behalf of shareholders when they signed off on the sale at the price negotiated?
    Did they know lithium was trending and given the global shift in attitude toward Ev's that it would continue. Did they believe the lithium asset could be more valuable than the sale price as evidenced by a GT1 MC of $195M vs ADV $18.8M? As directors selling an asset they should know its current market value or it is a failure to act with care and skill.
    Who appraised the value of the lithium asset for ADV?
    DId they fulfill their fiduciary duty and act with care duty and skill?
    Did RL improperly use his position at ADV to gain a seat on the board at GT1 as non exec director?
    Imho the asx is the biggest casino in Australia and the biggest threat to shareholder wealth is not assets, jorc reserves or whatever else your are peddling, it is the BOD and the toothless ASIC.
    I am a holder so keen to focus on the gold now.
    All the company needs to do is allow the geos to locate the drill bit, find grams and prove up a valuable resource. Then I will exit.
    Be careful out there.


 
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