Terracom - Lipstick on a Pig, page-19

BarrenB, now that you mention a proper Board....

Was Wallace King not questioned by authorities while at his previous gig for "misleading and deceptive conduct as well as breaching continuous disclosure laws by withholding from shareholders that senior executives "had knowledge, or knowledge of a risk that an offshore subsidiary was, or may have been engaged in corrupt conduct"

And what about its nominee director to the UNV Board, Mr Craig Ransley "who has been found to have engaged in corrupt conduct over a Hunter Valley mine deal, after a warrant was issued for his arrest.....the Director of Public Prosecutions (DPP) announced there was sufficient evidence to prosecute Mr Ransley over the Doyles Creek mine near Singleton. The mine deal was the focus of an inquiry by the Independent Commission Against Corruption (ICAC). It found Mr Ransley....made false statements to get the mine approved"

I adviseeverybody to make an effort and go through the Offer Document. Some interestingreading and points worth highlighting:

1. BNU is in operation without having a Reserve? A proper Board would not put shareholders at risk by commissioning a mine without at least an independent Feasibility Study. No wonder BNU is loss-making. Not sure how TER managed to raise capital and debt without a signed off Reserve? Definitely worth scrutiny by the ASX as it is reckless and may be in breach of JORC reporting and ASX listing requirements?
2. Less than 2% of TER resources are in the Measured category and over 96% are still reported under JORC 2004 guidelines. That is poor and points to a lack of proper risk management.

Says a lot about the quality and professionalism of the executive and management and should alarm UNV shareholders knowing that our mines will be in the hands of this mob going forward. DYOR!!!