RE: RE: Coronado Resources Ltd. Arranges a private
Crap. It appears that the Board of Coronado consists of nothing but blatent bold-faced nepotistic liars!
The next paragraph below the release states: "ABOUT: Coronado Resources Ltd is a Canadian-based exploration, development and mining company trading on the TSX Venture Exchange. Its wholly owned Madison propery in Montana is receiving revenue from high-grade gold and copper shipments whic have, since 2008, funded the development of its underground workings to access drill discovery {sic}" LOL
So...on a Friday...after the AGM...the company does an about face and becomes about one third larger. For what? The potential proceeds of a shipment?
Who the hell was gifted 4 million .14 centers? They just got done awarding themselves their usual batch of .15 options, more ammunition to curtail price.
In the past I have given deference to board incomptence in the name of ethics...that noble effort to keep the float low.
There are no ethics here. Indeed, I question even the legality! While the board may parade about as though it were a private company and nonetheless is incorporated under the Companies Act of British Columbia, This seems a prima facie case of a breach of the board's fiducary duty as well as its duty of disclosure. Both for which they should be personally liable.
Answers please...crap, crap, and more crap, ....hawk