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clock Created with Sketch. 22/08/14
18:15
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Originally posted by JandJ
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Clean Global Energy Ltd, before it changed its name to Citation Resources Ltd (CTR) entered into agreement with the shareholders of Citation Resources Pty Ltd (or Citation Resources Aus Pty Ltd, there is some confusion) (CRA) to purchase the private company and its right to farm-in to LAR.The critical point of this post is as follows : If CTR is forced to liquidation it would not be able to meet that obligation. IMO the liquidator would have no option but to accept that the $1.oo clause has come into play .If this sting is to happen by agreement the meeting of project jv partners next week will not influence the future actions of LAR who are operators of the project, and pressure will continue on CTR's SP. The purpose of this post is to ensure that this sting does not happen, if possible. CTR shareholders and option holders should make it quite clear that they expect a satisfactory outcome for them in Guatemala next week. They should also make it clear they will not accept exorbitant or extortionate claims from LAR. It should also be made clear that fully documented reports will be released to ASX, Asic and Interpol and the media both in Australia and Guatemala if necessary.
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Excellent research J & J - that could definitely happen (and I genuinely mean that).
(20min delay)