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By Newt Seaman | Monday 8 October 2018
Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Much of the background to this can be found in my articles here. As a quick recap: Chris Foster was Tim Baldwin’s sidekick at TXO. One of the things they wasted shareholders money on (apart from obscene directors’ fees) was backing Mad Malc Bendall’s (vision from God showing him lakes of oil under Tasmania) utter farce as he tried to keep hold of his licence, which he claimed was worth $3 billion. When TXO’s Nomad (Northland) finally resigned, there was another Nomad prepared to take the company on and save the AIM listing, but that was conditional on Tim and Chris resigning. They refused to resign and the rest is history, along with any hope their trapped shareholders had of seeing any of their money ever again.
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