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Yes, it certainly looks that way. I'd been meaning to ask about...

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ramblehe

1,336 Posts.

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30/03/15

13:51

Post #: 15004745
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Originally posted by 5speed ↑

Well, Brian may end up losing his 'share investment' but of course, as he is the only debtor in terms of having lent them money and having secured all our assets, I would think Brian will come out of this with the exploration licence if the PNG officials let him have it. Of course, the interesting part of this, is that Dermott does this stuff for a living, so will be interesting to see how long this drags out, as it can go on for years. Have a look at the MCO thread, a gold miner in Victoria who went into voluntary suspension and stayed there for about 3 years and it took 2 1/2 years for the mob who had the mortgage over the assets to lay claim to it all. So, I think us shareholders are screwed, but not necessarily Brian. Stay tuned, as this could get interesting even though I think we have done our beer chips.

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Yes, it certainly looks that way. I'd been meaning to ask about claiming a loss CGT wise... but I guess there'll be plenty of time to find out about that.

IDC Price at posting: 0.6¢ Sentiment: None Disclosure: Held
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