I see that IGS and Latin Gold have both been previously served threatened litigation by the vendor of the Brazil Gold Project (previously), however IGS failed to Ann this as part of its obligations (ASX) to do so.
I see the other shareholder of Latin Gold owning approx some 7% should Latin Gold try to sell the company (Brazil Gold Project) easily obtaining an injunction from the Court (London) ! and also voting against any sale including Latin Gold doesnt have the right of assignment to transfer the benefits !!
I then see the Brazilian project vendor filing against Latin Gold, IGS and the Directors in there personal capacities the litigation suit in causes per Companies Act (UK) s. 994 & s. 996 including breach of contract (but not limited to these actions). Effectively, should WG people become Directors of IGS they will be opening themselves to threatened litigation !!
I see if value is created in IGS that the Brazilian vendor though litigation will end up with "ALL" the assets. I understand international litigation funding has / is being sought !!
Time will tell
IGS Price at posting:
0.4¢ Sentiment: None Disclosure: Not Held
