I will be contacting the ASX and ASIC asking for a trading halt...

I will be contacting the ASX and ASIC asking for a trading halt and an administrator to be appointed immediately.

The fear is that the company will go into bankruptcy leaving all the shareholders with nothing. The fear is that the company will go into bankruptcy leaving all the shareholders with nothing.

I just can't see that they are still (or can remain) solvent, especially when Cosmo Gold owes them $1.4m and with the compulsory tenement rent and yearly expenditure of approximately $500,000 coming up (as far as the Cosmo expenditure is concerned, full disclosure, my 25% interest is "free carry" so all the expense is down to them). I don't even know if they have POW's in place to meet imminent expenditure commitments on those sites. As far as that expenditure goes, the wardens court has been lenient on Cosmo Gold in the past but that may not happen again should they fail to meet expenditure by the the deadline.

Now they are chasing more rainbows (lithium in Brazil) and thereby increasing annual expenditure commitments despite having less than $500k cash at bank.

They clearly have no direction and look like losing projects as a result.

The board of any other company trying to keep any last remaining vestige of integrity and reputation in place would have the sword held vertically in front of those in control by now (ie ready for them to fall on).

I'm sick and tired of them playing games and showing no results costing all of us money.

3D Resources floated in 2007 and have not turned a profit and has never made any money or issued any dividends. They have never created any shareholder wealth and now we only have enough funds to last through to the end of FY24 (if we're lucky) and the lights go out.

At this last EGM they were issuing themselves more shares and yeah it looks like they are going to pay money for them but in the past that money has then been drawn out soon after as directors fees, meaning they get the shares for nothing along with a bunch of free options.

Everyone just watch that space.

Is there anybody else out there as pissed off as I am.

Do you want to dip your oar in Gravity Waves.

Cheers Mike