They are at it again. This time 60m AGU and AGUO for Jarra...

They are at it again. This time 60m AGU and AGUO for Jarra Resources.

Another of these deals where the board issues shares at the rate of 1 for 1. They did it when acquiring Haven.

They did it with YRR when acquiring Australian Uranium and Cabe Resources and they did it with GPN when getting Desert Resources and Prescingot.

All deals without an independent valuation.

I brought this issue up at GPN's agm without any proper clarification from the board. I asked how they valued AUL and Cabe both at exactly one YRR share to 1 share in the other companies being acquired and was told that the board considered the new companies to be value for money.

Very easy to just issue as many shares as you like when there is no proper valuation done. Have a look at CHM's Statement of Claim at:

http://www.blackdogsbarking.com.au/

Some of the claim refers to this very issue.

Go to pages 41 to 55 for some information that may be of interest to AGU/GPN/YRR holders. Look at the names on page 46.

I recommend you read the whole 100 pages if you get time.

By the way all 5 leases owned by Jarra Resources are held by Whitvista.