Fake News?I am really curious what the Core BOD4 will say now. Will the title of the next press release you write for them Sam be : " Fake News, Self Serving, blah, blah blah" again , as your last few have. Well, there is a great deal to go over in the release that Mr. Piggott made, but there sure isn't anything fake about any of it. Looks like you will need to confront the actual facts , for perhaps the first time in this merger attempt. Or you could just ignore it I guess, hope the regulators don't step in to stop the vote. Hope that many of your supporters, that believed your false promises , don't jump ship.
And self serving? : sure , Mr. Piggott wants his company back, the one he brought back from the brink, the one he built to a place where it was ready to take off, if only he hadn't run into a BOD that is intent on stealing all his efforts. And also shareholder serving, the ones who aren't in on the deal.
And if you are a shareholder who voted for this merger based on promises made to you by Sedun, I can only say that if he promised you money for your vote, you better have that money in your pocket now, because if this merger happens I can promise you , and this promise will be kept: you ain't gettin' it after.
An important thing that I got from the disclosures was that it is very apparent, to me anyway, that there was bribery of local officials involved with Titan getting away with all the environmental damage it did, and even with it getting a permit for the Vista Mill. Now we all know that Canada has pretty strong laws against bribery being done by Canadian companies in foreign jurisdictions ( the SNC Lavalin thing was all about bribery in Libya), and one would presume that Australia is party to the same protocol. So this might be another in for the Australian regulators to go after Titan.
It is also significant that there has been a big change in government in Peru. Peru has, forever it seems ,had problems with government. One corrupt leader after another. But on Mar 23, 2018 Martin Vizcarra became president, when the previous President, Kuczyski, resigned ahead of impeachment proccedings. Vizcarra could very well be to Peru what Correa was to Ecuador.
He is a man of the people, and one of his first acts was to hold a referendum on taking on the corruption that has plagued Peru for, well, forever. And it won big and he has a strong mandate to go after the corrupt. Most of Titan's misdeeds occured under the old system of payoffs, but things are changing. And much of that will be retroactive. Making right old wrongs. Peru has for a long time lagged far behind Ecuador and Chile in environmental enforcement, but with many NGOs active, the UN having a big presence; the tools are in place for drastic action.
And what I would hope that drastic action would look like is this: 1. The Peruvian federal authorites charge local authorites with accepting bribes from Titan. This brings the Australian authorities into play and Australian charges are laid against Titan. 2. When Titan departs, hastily, from Peru to escape prosecution (they really have nothing of value there anyway, the Vista Mill could maybe be sold for a couple million , or not) , the Peruvian authorities with the help of the UN, the NGOs, and the Australian authorities, files against Titan in Australia. And they file criminal charges, as well as charges against the personal assets of Carr and Rowley.
That would be my personal dream senario.