Re-posting my previous post with links/source of (substantiated)...

Re-posting my previous post with links/source of (substantiated) info.
(Not adding much, other than the source of information).

Reference documents/admin reports can be viewed at the BRI Ferrier (Administrators) site here:

http://briferrier.com.au/about-us/current-matters/capital-mining-limited

Hey mate,
I can only offer my opinion on what I read and how I interpreted it...

The admin reports suggested there was about 6m worth of assets (I assume that is the NSW and RoI sites, plus others). CMY had 60k in cash.
They owed 110k to various creditors.

If the admin liquidated the assets they suggested they could get about 2m.

Admin costs were around 200k for this whole admin period (roughly).

So essentially Artem Fedula are paying (up to) 300k, paying the creditors ($110k) and admin fees (up to $190K) and getting the 6m of assets.



From what I read the NSW lithium sites had insignificant results, but they didn't really drill that much. I am not sure about the RoI site.

So, to answer your question, they (Artem Fedula) are paying (up to) 300k to get back what was left when the directors resigned.



(Source: http://briferrier.com.au/about-us/current-matters/capital-mining-limited - Section 6.2 of the document tilted “Voluntary Administrators Supplementary Report to Creditors”.

The Deed is now executed:

(Source: http://briferrier.com.au/about-us/current-matters/capital-mining-limited - Page 2 of the document tilted “Circular to Creditors”.

So:



Yes it is still kind of a shell. What direction the company will go is anyone's guess. IMO - Most likely south given the number of disgruntled holders!

For me personally, I, of course, should have done much more research, but stupidly jumped in on the medical marijuana hype with CCY, as well as thinking the lithium aspect was great!

All of the above is IMO.
Cheers
MSN