You would think that a company wanting our money to complete due diligence on a new project they are running the ruler over would at least tell us what the project is, and what revenues it might generate, before we have to pay up!!
I would hope that an announcement to this effect is made BEFORE the prospectus containing acceptance form is despatched. Otherwise, most people living outside Perth will not receive the prospectus until Wed 13th, and will be left with only 3 trade days to try and offload their rights if they don't like the deal.
If no announcement is made before the prospectus is delivered, who on earth would be selling or buying the rights before they knew WHAT they were selling or buying? This probably accounts for the frenetic trading that has been going on in the rights so far!! - please excuse my sarcasm, but I'm afraid it has grown exponentially since becoming a shareholder!
Most will just assume that the new venture will be about mining chromite ore, but what if it were say, selling whale meat to the Japanese, or..........????
The only redeeming feature so far is that one of the directors has bought around 80m odd shares in his own company, but lets NOT forget for a minute that he got most of them for .005!!
Sorry guys, just needed to get this off my chest. Have a good day!
CCI Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
