How can a Private Company, blatantly, have any control in/over an ASX listed Company?
I've been looking at some of the old AGS ASX releases to see if they knew what they had in the tenement, or, if, as I suspect, it was just blind luck.
One of them at one of the AGMs stated that they were the ones who pegged the ground implying they were good at exploration.
Anyway, the 2004 Annual Report is very illustrative.
Both IG and TL are appointed 15 Oct 2003.
They're both being paid director's fees and consulting fees. (p13 Annual Report 2004)
Also, Pamensky and Johnston are listed as executives. The notes list Pamensky and Johnston as being employed by the Gandel Metals Trust.
All very cosy.
The Arkaroola Project is given one paragraph. They're looking for Copper-Gold.
The annual report is mainly about Maldon.
A presentation released 23/02/2005 has one dot point about the Arkaroola JV. Still, looking for copper-gold. The rest is all about Maldon.
ASX release 13/04/2005 is headlined: "Uranium drilling commences at Arkaroola Project"
They almost sound apologetic:
"It has been suggested that the uranium at the Beverley Uranium Mine was sourced from weathering of the Mt Painter highlands to the West. If so, the Arkaroola tenement between the Mt Painter highlands and the Beverley Uranium Mine is considered highly prospective for uranium."
AGS Price at posting:
4.0¢ Sentiment: Hold Disclosure: Not Held
