Reading the Activities Report again they constantly harp on about not paying the $2.5 m CN but they apparently wasted so much money not mining correctly....expenses were $16m for first 6 months of last calendar year. The $2.5 m CN is obviously going to be the company’s official cause of going to the wall along with the inherent risks of mining. The joke there is that they mined the same mine incorrectly TWICE
Because the company are operating outside of the law in that they are only supposed to act in exceptional circumstances with only 2 Directors . Also no independent Directors, no AGM no updates therefore no transparency. Surely they are then personally liable for losses as the company is not operating within the law prescribed by the Corporations Act and we reported the breaches to ASIC.
That on top of all the breaches of misleading the ASX and shareholders, negligence,all the directors duties they have breached surely they then must be at least financially liable
Also we have done everything we can do that the law allows us, gone to ASIC, and when they performed in their usual incompetent way and did nothing we put up a motion to remove him.....so why should we lose money on this.
CTL’s Directors should at least be liable for losses incurred whilst they were operating illegally and ASIC also for not stopping them after they were notified
CTL Price at posting:
0.9¢ Sentiment: None Disclosure: Held
(20min delay)
