The board should face criminal charges. Charging the company (tanami) 21% interest which was payable to their controler (Allied) when comercial rates were 7%.
The rights issue ($65 mil)was to repay Allied in order to take up more shares in Tanami as allied associated interests underwrote the issue.
They have now sacked everyone on site costing $5mil in redundancy payments. their next move will be to say Tanami is broke and shareholders should accept a take over bid which will be from a company also controled by Lee Seng Hui, thus taking over the major asset of high grade gold in ground at a ridiculously cheap price, totally at the demise of all the other shareholders.
A totally immoral board!
The board should face criminal charges. Charging the company...
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