Hi stringtickler,Creat Group was supposed to lend GXY $130...

Hi stringtickler,
Creat Group was supposed to lend GXY $130 Million and also be issued shares at 88c in GXY for a 19.99% shareholding.
Creat Group BAILED.
Currently,GXY is in a precarious position without the funding of that $130 Million Loan (still trying to be negotiated with RZB and China Development Bank,but no result yet).
Creat Group elected a very small subsidiary Company called Creat Resources Holdings Ltd (formerley Zeehan Zinc - registered in Tasmania ) to take up that 19.99% holding.
To date CRHL has only been able to raise enough money for approx 4.5% shareholding in GXY.
CRHL(listed on AIM in London),whose last share price is about 4 pence is attempting to raise the balance of that $17.5 Million to pay to GXY for their total shareholding of 19.99%,by issuing 283,333,333 shares at 6 pence a share.
Creat Group is approx 54% shareholder of CRHL.
So,GXY does not have that $17.5 Million either.
GXY are hoping that both,the $130 Million Loan and CRHL's $17.5 Million will complete in April.
If you think the markets are jittery about GXY's future prospects,then these major finance issues are probably the main reason.
Within 30 days we should know of the outcome,and hopefully,it will be good news.
These finance issues were supposed to be resolved many months ago.
Good Luck