TFA have a director in FWL and that director should have taken part in the discussion, feasibility of the new mine would they not?? That is the responsibility of all directors to attend these meetings is it not and a meeting discussing a substantial acquisition would have required all board members to be present or if not present at least on a conference call. TFA would have known everything that was going on at FWL and the idea that they threw another $1.3M into the placement so FWL could acquire a project and stop FWL going broke is ludicrous. All TFA had to say was that we are not supporting the acquisition and thus the placement but if you're going broke we will pump more money into you through a share placement. For your information FWL had people doing a phone around to shareholders 2 weeks before the closing date to ascertain whether shareholders were going to take up their entitlement and they would have known well before signing on the dotted line for the new project that shareholders were not going to support the placement. So what you're saying Nose is that with this information, TFA decided they would take up their full entitlement even though they supposedly don't support the new acquisition but hey they got a chance to average down! Chinese dont average down. TFA and Sin Tang know that unless FWL get their projects up and running that they've done their doh anyway because the chances of them selling their shares is zero.
LCG Price at posting:
3.4¢ Sentiment: Hold Disclosure: Held
