7.2c Sales Today
F’ed and with Mac sharpening their pencils ready to call in the debt!
So no farmout coming and CT&P board set up with Mac for them to get an extension on loan balloon payback with at least one of the weasel clauses of the agreement being Mac can call in its loan if ASX significantly drops (eg into bear territory) and guess what.....?
Say goodbye to all the production assets boys and girls...
CT&P directors rewarded for this by Mac.
Have a look at the one year chart for this puppy, Hmmmmmmm not hard to see where this IS going to end up.
The shareholders got so shafted and most of them don’t realise just how bad they were betrayed...
There is nothing left of this company as directors for last ca 5 years took from the company everything they could get and shareholders never got a cent from the revenues because the debt paralyzed the Company as it was planned to do by Cottee so that Mac could get it all and Cottee was to get his reward from Mac. Now it’s Little Leon the financier who will collect big time from Mac for his treachery and that’s the end of the story...
Like you have said it’s all over, has been for some time.
And where is that know all person today.??
Lost in space and perhaps he will come up with another Nick.
From memory, Nexus was paralysed with huge debts too. And the lender walked away with everything while the shareholders walked away empty handed and without a cent.
Sad but true.
What a surprise, all most as good as the surprise they found out of A Springs.
Yep, and we were being told that it was so big and that it went all the way to the Alice.
Was it all imaginations or big lies.....
And even with the little bit of oil that they are able to pump in all of their ventures, that is not going to help at all with the current price of crude of about 20 to 25 USD dollars a barrel.
They would go broke pumping it.