Directors are very slow in updating shareholders regarding the status of the company.
Have been told that they have two months before the company is forcefully removed from the ASX.
The company needs $4m before it can recommence trading. Requirement by ASX I am told.
The company has failed to secure the required funds from many sources ( including Tony Sage).
Santa Fe is blocking the sale of shares held by IGS. Cannot understand why. IGS is happy to dispose of the shares at a big discount. No buyers it seems.
Even after cleaning up the accounts there are still creditors on the books.
In summary... they have a project in Africa but cannot secure funds at present to keep the company afloat. Time is running out fast. Very disappointing situation.
Update
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