2 Inches Away from Adminitration but on the Way

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    That is how close we were for our company being shut down and sold off likely to Mac.
    We were 2 inches away from Mac putting us into administration because the directors failed to refinance and pay off the huge final ballon payment due in Sept. No reputable finance company wants to refinance our debt. Mac had our directors by the balls and the deal extension must have been on brutal terms to the shareholders of CTP which terms are being withheld by Directors simply using a confidentiality clause.
    Admin is the only way out for CTP under this Board which means Mac steals the company away from us for the debt owed to them by CTP and shareholders get NOTHING!

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    Directors have to go or they will allow Admin to happen and the directors will get rewarded and the shareholders will not even know what happened beyond losing their total investment...

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    Hands up who thinks they will get away with it?
    My hand isn’t up and I will be betting significantly that they don’t!

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    My bet is that they will/HAVE got away with it.

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    Only 2 inches?.....Generous. 🙄

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    No ifs, no buts, Mac has won, end of story.

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    what did they win

    half a pipeline for $62 million

    not an impressive deal to me ( the rest of the company seems to be burning cash WHILE in production )

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    There is no doubt now that CT&P is on the skids and heading to administration.

    The Board FAILED to refinance because of the poor health of company and the Banks are worried CT&P will not be able to pay off its debts.

    This is more than an alarm going off....it’s a nuclear event to demonstrate Mac will have us in Receivership very soon and they will scoop up our assets a lot cheaper than any takeover.

    Get out of CT&P before it’s too late!

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    This is likely why Cottee flew away and left his minions in charge because he knows CT&P are heading to the wall and could not refinance.

    The current Board is hiding from shareholders how bad things are for a long time but now we know because they could not refinance the Mac loan!

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    CT&P are finished...get ready for administrators and completely losing your investment!

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    Ctp refinanced for another year. And all things going well, might get another refinance next year. Wait until the next quarter result comes out. Ctp will bank more and more money, and reduce the loan. Maq bank are happy to make more interest payments out of ctp

    Your a pigeon, nothing you say comes right. Now fuck off

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    How’s does it go?
    Adds and Leon sitting in a tree,
    K..I..S..S..I..N..G
    Well done little Leon and your best mate Cottee who is going to hang you out to dry with administration....

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    little Leon is as gay as Adds. explains the impending divorce of Little Leon and insecurities. Oh well. Not that I care if they are both gay or one in the same but please keep it out of the Boardroom fellows...

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    What's wrong with gay people.

    Your loose as a goose in your head. Come to sterling, be a man, and eat a foot long at subway. I dont bite, much, I'm sure we will get along

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    I love you adds...let’s hook up mate

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    Absolutely. I can rub my beard all over you. I won't shower for a week for you as well

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    Your a sick F adds. I thought you mostly just did it with goats and rabbits. And let’s not forget Little Leon 🤦‍♂️

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    I hope for the burnt holders sake that CTP never gets as sick as your lot of posting has turned in to.

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    Hi Truth4ume, Didn't we have someone with $100 USA million dollars ready to step in and take us all to the land of promises by changing the whole BOD's.?

    Weren't they your friends.??

    And to think that with $100USA million dollars we could have easily paid out Mac Bank in full and still have tens and tens of mullions of dollars to do some drillings without the help of STO. $100 USA million dollars amounts to approximately $150 AUD million dollars.

    Go figure.

    Yep....plenty of BS around them thar hills. That's for sure.

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    ""(#Mac will have us in Receivership very soon and they will scoop up our assets a lot cheaper than any takeover.#)""

    Nexus anyone./?

    Could this be the next Nexus story unfolding.??

    Dear oh me what a hard pill to take that it was for me and many other shareholders.

    And guess what.....did the Directors suffered the same fate as we did.??

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    Sorry to tell you adds04 but IMO it appears that all CTP is doing, is to keep MAC Bank off their back (TEMPORARILY) while paying big interests, and themselves into a cushy and well paid job.

    As for the shareholders, well mate I am sorry to tell you that there no room left in that through for us to put our mouth in.

    3 likes
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