BLZ 0.00% 0.7¢ blaze minerals limited

Becoming a Matthew Walker Shell, page-43

  1. 1,579 Posts.
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    Great post Webb. Your numbers look spot on to me. We appear cashed up with the asset available to transfer in lieu of cash to settle any debts (plus return of a $19K bond from memory).
    But I don't think we need to wait till April to confirm whether BLZ transfers the asset to confirm BLZ's future direction; just look at the recent resolution from the AGM:

    Resolution 7 – To Seek Other Opportunities
    To consider, and if thought fit, to pass the following as an ordinary resolution:
    "That the Directors of the Company be authorised and directed to seek opportunities and investments for the Company in the industrial and technology sectors in addition to the resources sector.”

    and just in case we are still wondering whether it might continue on the resources path, see the explanatory note later:
    RESOLUTION 7 - APPROVAL TO SEEK OTHER OPPORTUNITIES
    Given the present situation in the resources sector, the Directors consider that there may be greater opportunities available for the Company in other sectors of the market.
    Approval is sought to explore the possibilities for the Company to investigate new possibilities.
    Shareholders should be aware that if the Company does discover one or more suitable non-resource sector projects, ASX Listing Rules may impact on the decision to proceed.
    The Board recommends Shareholders vote in favour of this Resolution.

    So it seems to me that it is pretty clear that this already consolidated, and now cashed up shell with 75% equity controlled by Matthew Walker and his Cicero clients is seeking a tech or industrial acquisition!
 
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