I suspect the proceeds of went into plenty of wining & dining, I mean meetings,
" the Board of Alcyone Resources regrets to advise that the previously announced material fundraising transaction remains in process but is still not yet complete. The Company is in discussions with a number of parties and is taking the appropriate time to consider its available options. An update to the market will be provided as soon as a material, binding transaction is signed "
The last of which was only two weeks before the Receivers & Managers were appointed, but of course, just my opinion, have been known to be wrong before.
TPG
AYN Price at posting:
0.1¢ Sentiment: Hold Disclosure: Held
