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HotRods65

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05/05/16

15:56

Post #: 17687256
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Originally posted by petey888 ↑

Bm, Holdonman and Co,

Well, its like you spoke and the God's delivered...

To the great unwashed, it seems potentially logical that our friends at PRC have stumbled across a "White knight" of some description.. or shall I say "our JV partner at Lake McKay"

Let me ask you all a question - Who here wants to give away circa 10% of their leverage to bumblebee on the eve of drilling??? Hyperion, Buccaneer - Anyone, any takers?.. That is what I'm smelling is at play here.

Read the JV announcements and our very own ABM announcement today.... Make up your own minds..

Question - Could a board acting in its fiduciary duty potentially agree to such an outright dilution of shareholder value??? Hey, go one further, IGO could potentially be taking circa 10% of our company at 8 year lows a $15m market capitalization - Is that:
A). Ethical - given the meeting on 9th May?
B). In the best interest of ABM shareholders?
C). Value accretive?
D). Completely irrational given the potential value at Bumblebee (I can share my opinion -yes!) and does it only make any logical sense if it is being used to secure a potential vote for management and PRC on the 9th? (My opinion again - Yes).

I can't wait to hear BL and the blitzkrieg spin this one...

In my opinion, this is nothing but a disgusting and desperate 11th hour attempt by ABM management and PRC to maintain control....

If my instincts are correct - The truth sits in the IGO votes (if that is indeed what has occurred). Should IGO potentially decide to vote with PRC and ABM management, I expect those shareholders who are disgusted like me can consider dragging them into the potential class action opportunities also....... The bigger the potential honeypot the better....... So I guess thats a positive..

Silver linings peeps

Goodluck ABM board (Cue viola)..

Pete

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Have you heard something Pete, my reading of the ann this 1.5mill invest doesn't come into effect until after 3 years.

ABU Price at posting: 4.3¢ Sentiment: Sell Disclosure: Held
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