Who's in the Back Room Frank???? OK Frank/Bruce....someone come clean here and tell us shareholders Who Is In The Back Room.....????
So here we are with a mountain of debt and with no known means to repay except through dilution, dilution, dilution, AKA the issuance of shares for the 6% interest on the $34m Fancamp loan.
As per the July 28th CC news little ole KWG/CC got the cajones to publicly not only announce their purchase of the Magpie Special Shares.....BUT.....as I read the nr, they also plan to buy Fancamp's remaining shares in Magpie, along with the 2% royalty. All of this, AND the real backhand on their debt holder....they will keep the 2 individuals at significant odds with Fancamp as directors of Magpie.
As of yet, and I stress YET, Fancamp have not commented. I would be shocked if they did not, in the not too distant future.
Again, this begs the question.......who is in the backroom to bankroll this.....RIO , BHP, Wyloo......because for sure and certain, CC do not have the wherewithal to accomplish this grand scheme.
Imagine our soaring sp if somehow The Market knew who our mysterious backer may be.