Hi, Taken from Baraka's comment - "Debt disclosed at last quarterly is roughly in line with what has been reported at creditors meeting ( unsecured is additional to this and is not reported in quarterly ). If they had stated that the mine was running great and the receivers walk in and find it is a complete shambles & producing nothing like was claimed and was a complete dead loss , yes you would have a prima facie case - as it stands it will be very difficult to prove they misrepresented their prospects".
So what did they walk in and find- a. no money for fuel - what does that say. b. macquarie banks pulled the plug prematurely 6 weeks early? c. VA that's called in 1 day before the AGM and seemingly no attempt by the directors to engage in any solutions ie. recapitalistion. c. director's of the company who seem to have very mixed interests. d. assets that have already been sold and not disclosed on Cuo. e. announcements that haven't been made. f. you can guess what that's for
Lady Annie is the cash cow for what- exactly or whom?
Sorry lost it. l am still trying to understand this l admit but its fundamentally not right. And you would have to go back to management and ask a big why? Plan A, B or C?
MB
CUO Price at posting:
5.0¢ Sentiment: None Disclosure: Held
