RE: Delisting20 Aug 2020 18:43
According to all the media commentary Mr Candy is basically onside with the minorities, if anyone can remember back in Q1 when the share price started to plummet a number of comments were made about the other party (not Candy) upsetting the apple cart. It does no good ****ging off either party in my view but they need to realise a great deal is at stake, including their own money, accepted to the likes of Candy and Edwards it is chicken feed.
I have no interest in getting involved in controversy here but the post (below) from Carefree Carry which suggested the major shareholders will make a mint from the mine takes a great deal for granted, this is simply not the case.
The benefit of a Stock Exchange listing is many fold, for example it allows the authorities to check the progress of the company, it's financial position, operational matters, profit & loss (for tax purposes) environmental conduct etc. A private company can hide a great deal of dirty washing, as such authorities can become more suspicious about it, that can be detrimental.
The poster also assumes the mine will be operationally successful, that gold prices will remain high, there will be political stability in the Philippines, there will not be an environmental 'problem' that the Mining Licence is secure + many other unexpected aspects that mining can deliver.
I think it is best to await the outcome of talks, however it is NOT a one way bet for the very wealthy major shareholders, my view remains retention of a Stock Exchange listing will benefit everyone.
Sign In
Follow the stocks
