AON 22.2% 1.4¢ apollo minerals limited

AON looking into coal?, page-3

  1. 2,489 Posts.
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    As far as I know, current company main critical issue is passing some resolutions at AGM.
    Most impotently, if my understanding is correct, if agendas pass both of  (a) 1-for-4 share consolidation and (b) 30m new shares issue to so-called Eligible investors such as only incoming and outgoing chairs and directors at the meeting, it is almost likely those in and out chairs will hold more than 51% of company shares by only investing around $1.5m or so founded over bloodbath of current existing shareholders sacrifice (1-for-4 consolidation in addition to 1-for-10 consolidation).  Please also note that, if passed, all so called Eligible investors can subscribe shares at almost 50% discounted price than current market price. What it means is that, both chairs can hold possible market cap of between $1billion and potential up to $6 billion plus market cap, if FR drillings are successful that I am very optimistic.

    Personally, in relation to above article, regardless genuine intention or not, I think it intends to disperse current immediate topics and seems decorated lure to pass above agendas at the AGM. In reality, company has only money 3 or 5 deep drilling at some north of Plato. I want to be realistic and see phenomena as it is.

    Regards,
 
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