These are all carefully written answers that tick the legal boxes but exclude the moral ones. Yes, a vote on the transaction is ‘not required’, but a large percentage of shareholders want one and management is bypassing to make the deal go through. Shareholders also want an AGM prior to a deal with Scozinc which they are also ignoring. On these matters, all I see are hollow excuses and legal maneuvering.

They can word it however they want, but they are not fooling anyone. They are using every legal advantage they can to put through a deal they want, but many shareholders don’t. It’s the ‘just business’ attitude which vexes me. I wish they could be straight with us instead of using legal speak to justify these actions. Nobody believes this. If they can’t be on the level for the most basic of issues, what else are they not on the level on? 

There is no way this is a ‘fair’ deal. We have a number of assets, but for the sake of argument what would Fancamp be worth If the Ring of Fire opened up today? What would Scozinc be worth if the Ring of Fire opened up? Fancamp has incredible potential in a massive way that Scozinc does not. 

There is no way a 1 for 6 is fair. I’d like a second opinion on the terms of the deal.