EXU (ASX) Ann: Independent Expert's Report

Originally posted by KAtlantic: ↑

Throughout this whole debacle Mace has Still not been released. it was being touted before Diggers if my memory serves and yet nothing...the royalty/equity swap buried in a Supp is also very poor form too. The company clearly takes LR3.1 with a pinch of salt.

if Mace was that good why would't u release it as inferred and then talk up what's to come. There is only one reason...it clearly ain't that good.

I'll wager with anyone, that Mace stand-alone (ignoring any Mace that forms part of Tampia) is less than 20,000 ounces. Yes they will be cheap but there wont be many oz; they just dont fIt In the space.

many posters thInk RMS Is out because of Mace If Its not ready for publIc release then they probably never saw It...hence the pullout must be drIven by TampIa #s only. I really hope they publIsh reasons, but that may get ugly

Whilst I think the RMS situation could have been handled better (I'm neutral remember) to take your Company to border line insolvency so that now you have absolutely no choice but to accept ALK is poor. Any coercive deal like that needs to be outlawed.

Even the IER has got in on the act...something like "[BDO] have not adjusted our valuation for the financial distress that may be experienced by EXU is ALK doesn't get up"

So a life-threatening outcome is ignored in their assessment of fair and reasonableness. Incredible. Would It be because It wIll support RMS posItIon?

My guess Is the $800 has been spent on advIsors and lawyers . Why push ALK mtf back so far?

All faith lost. Other than accepting an offer on the Mace size bet, I am done.

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its interesting you say that the royalty/equity agreement is buried
its very clearly stated in point 3.1 of the Supp (PAGE 2), with more detail in the IER on point 5.3.2 and so on

And you say BDO ignored the potential negative ALK scenario
have a look at Page 3 of the BDO document, there they make the first mention of it, but refer to 2.3.5, for more detail (Page 8 of the IER)
read the 4th row of the Table and you will see where this scenario is covered.

I dont believe Mace should be released until it is ready, which was delayed for plenty of legit reasons, already covered, im not going into them again
so EXU are doing the right thing here IMO
They have pushed back the ALK vote enough to be able to release the Mace update, and give all of us simpletons time to read it and digest it and make inquiries to then make an informed decision on ALK
It just so happens to line up with the RMS deal expiry, well i think this is smart really

Yeh, i agree, RMS played a dirty game with expending funds of EXU indirectly should be illegal.. probably is, but how do you prove intent...

its interesting you say that the royalty/equity agreement is...