Guys time to say it of how it is, this is my absolute last post as I am no longer a holder and have a lot of friends who went against my advice and that was to sell out at 8-10c. No time left for whingers and time wasters if I was a holder, forget ASX/ASIC. You need to get a QC and get an injunction immediately as not in best interest of holders only benefits todd and then todd has to prove why not an injunction etc, causes a major delay and that's what you guys need imo easy to get, then you seek discovery etc as things haven't gone well for holders and plenty of leaked info with Chinese, todd,BBIG etc etc that's my advice. Take it or leave it it's your money and up to you all!
I am not here to gloat or cause holders any grief. Many holders have absolutely no idea of what is going to happen and how this delisting will effect you all. I just want to inform you all from my experience and knowledge of other companies and as being a holder from day 1 of this company feel for you all and wish to help some of you out as my final good will. I do have many good friends in this stock and I do care. Please spare me some respect and time to listen what I have to say, ok.
Need to immediately get a QC and get an injunction then seek discovery prior to 22nd. This is critical. It will cost about $10k to do this. This is an expensive exercise if you are all so passionate. No time to waste imo if I was a holder. ASX surprised me by reading they have accepted a ordinary resolution here of 50%, obviously the company imo have asked for a waiver by saying ill liquid blah blah etc poor excuses imo. So obvious to me imo. Normally a special resolution is the way to delist. Remember the major holder imo has had a 3-5 yr plan to acquire all imo and have the best legal guys and boards support. But you all have a legal process which can have an effect if you act fast. Make of it as you will. You guys have never had a chance once you didn't spill the board and OCJ remain quiet and silent. IMO production was never going to happen and the result now proves my opinion of what was always going to happen.
You only have 20% of retail holders 10% at best will vote, support and act. Not good odds imo. Fact guys.
The delisting will obviously end up being a public unlisted company. Which restricts holders like you big time. You have no requirement to continuous disclosure rules, basically told very little about company going forward. DIRS still have the same FID duties but no requirement to put financials, announcements etc, but have to supply EOY accounts and a notice of meeting that's all. You guys will not know all about the plans etc going forward. Todd will have total control and do what they have to do imo going forward. You guys will have absolutely no say going forward imo.
You will be unable to trade shares, only by off market and still need approval by Todd to sell they can even say no. You actually have to find your own buyer if todd approves etc. Or except a low ball offer ie 2c imo. Todd will end up with all eventually imo. I wouldn't be buying shares. Please educate or get legal advice. Plenty of examples of other companies who ended up in this situation. Not good for you all imo.
OCJ imo is very interesting position, if they support you then they have to communicate and now to you all, but imo they are believed to be Chinese Investor and with all leaks with Chinese, BBIG, Shangdong, Todd etc have not a lot of confidence at this stage to say they are supporting minority holders, time will tell but imo as I have said many times once delisted Todd will do a deal imo with OCJ ie they come up with 20% of costs of mine etc and Todd have 80% you guys will eventually end up with 1-2c per share and gone, never see production if delisting goes ahead. Please educate yourselves and not complain on wasteful time on HC etc.. Just my future prediction could be wrong but OCJ will confirm action at some stage but that's my bet.
Finally look at Hancock with Gina no requirement to disclose to kids, also a public unlisted company and the huge legal fight with kids, this is your destiny guys imo of the kids taking mum to court as they are holders but given no information basically Gina controls what is said and done. How many years will this go for and who is making money whilst this is going on. Sad isn't it and we all know Todd want to build a mine and control all why else would they offer low ball offers to FMS while paid good offers to RTA BBIG. Seriously it's obvious to me the port/rail was critical the mine secondary, hence the SP offers previously.
If you need more info look at the structure with Cattamarra farms/Wharf and then ERM before they listed. Todd can loan money initially and you holders will never be able to pay it back then administration game over and administration is another option as heaps of money is required. Seriously by not taking legal action imo you could end up with nothing.
Sorry to sound so negative but hope this helps explain some of the major issue facing you all. Time for you all to band together and legally act if not PS it's a very messy and doomed future imo. Good bye all hope my post sets out some clarity if you don't believe me get some legal advice. Someone actually had to spell it all out to you all. As many people here are making uneducated and emotive decisions which is a concern to me about the seriousness you could all end up in. Time to focus and get with the program. Time is ticking. GLTA.
THIS IS JUST MY OWN OPINION FROM MY OWN EXPERIENCES PLEASE DYOR. Hope this helps guys, again all the best bye all.
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