RE: RE: RE: RE: Petition to the Court. Richard-
If anyone associated with MMY had an interest in the prior owners of Mengapur that would have been required to be disclosed as a related transaction. While it is possible that they did, it would be so easy to prove and stupid to try and hide.
I don't see fraud. I see excessive optimism resulting in MMY buying something bigger than they could afford. What was a company with a great low cost mine (Selinsing) that could have been developed further and was on track to getting an appropriate share price has now been transformed into a company with a potentially great asset that requires substantial financing when the share price is still low. Management has to either be paitent on development and work to get the share price at fair value firsst or plow ahead and finance regardless of price. They seem to be choosing to plow ahead. I wish they would uplist to TSX and possibly pay dividend or repurchase shares first. That should get the share price over a $1 as investors would see a management that is focused on shareholder value as its priority and not project development. It may seem crazy to spend cash when you actually want to raise it, but it really isn't.