Agree that this continues to get weirder! The ASX questions were out of the blue, but my take on it for what this is worth is that, for some reason, XPD is unable to get funds out of China even to pay legitimate bills (contrary to the nature of the currency controls in place - they were specific in saying they would not block currency movements for legitimate business reasons).
This suggests to me that the Chinese authorities may have their own issues with the parties behind XPD and may have frozen all and any currency outflows connected with these characters.
If this were the case, it is not surprising that the new directors have not walked because they are yet to be paid, but rather would be intent on addressing the issues as it is in their best interests (as representatives for their investment in the company) and also in the best interests of all shareholders. These directors will still get paid by their Australian employers anyway and probably will pick up a bonus if they can unlock the value from XPD.
Obviously though from the ASX questions, the sacked directors are hanging out for their cash and there is probably nothing in the AUD account to pay them.
We watch, wait and hope!!
XPD Price at posting:
3.3¢ Sentiment: Hold Disclosure: Held
