It clearly says in the original announcements that it is non contributing until completion of a BFS, which they have not done. It defies logic that the Mexicans would have renegotiated the deal for a worse outcome without some other compensation. And if the deal was renegotiated it should have been announced as it was material.
The option to acquire the 10% due to the originals shareholders seems was to be a put and call for 10% of the value of the company at the time of exercise. How can they have announced this multiple times and then have it suddenly dissappear? Then they say earlier this year that someone is claiming 10% and they knew nothing about it? (Even though it had been announced multiple times?). And if it renegotiated are they suggesting this group just gave up 10% for nothing and why wasn’t it announced?
A few few searches on ASIC show who these people might be and anyone in the Perth broking community might no them. I fully expect a law suit; I wouldn’t walk away from 10%.
