As I said, I respect your posts and I also acknowledge your wish for me (us!) not to get into any trouble. I'm depending on you for this!!
That said, I thought that was what forums were for....to discuss the concerns that holders may have, especially when they feel their Board is not being transparent (in their view).
For example, one issue that keeps nagging away at me is CXX's repetitive announcements (over the last couple of years) that offtakes and financing were well advanced and nearing completion blah, blah, blah.....but as at this moment, we still have no confirmation.
Incidentally, they took on Claude de Fresne especially to negotiate these for CXX because he was the expert guru
then, some time later, it was revealed Tremont themselves were handling the offtake and financing negotiations.
Now all of a sudden Tremont launch into their "much expected" takeover (via a Scheme of Arrangement) which is not subject to any "due diligence". The thing is,
why would Tremont commit to a takeover - without any due diligence - when there is supposedly no offtake or financing agreements in place yet?? Seriously, who would do that?
Conversely, I wonder what the SP might have been had offtakes and finance been announced PRIOR to Tremont's takeover announcement???
Also of interest, once the takeover is successful and, why wouldn't it be - given the support of the Board and SSH's (who had exclusive knowledge about this), CXX will no longer exist as part of the conditions of the Scheme of Arrangement is for CXX to be removed from the ASX!
So, having said that,
exactly who are the Parties of the offtake and financing agreements going to be?? Do you seriously expect me to believe that the offtake and financing negotiations were being negotiated on the basis that CXX would be one of the Parties of the actual agreements??
Given Tremont have finally shown their hand, I can't help but wonder whether there may have been a potential conflict of interest with them negotiating the offtakes and financing deals.
I'm with "Agreed" .... something stinks!
IMO, the minority shareholders have every right to feel aggrieved and I just hope they get to air their concerns either at the Scheme meeting - or with the ASIC directly.
