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Because , Lo out and seem don’t want to lease land to bahvest anymore , bahvest no longer any business if no land to dig gold , and lo want 21m from bahvest which bahvest hard to accumulate this fund , bahvest in the stage or wether can survive . Asset and cash flow not enough . Want loan more cannot , want private placement cannot , right issue also cannot as if no any business operational or cease operation , no ppl going to risk . Without LO , it is a tin kosong Co.
this is what I think. BAHVEST has submitted evidence of sublease and letter of demand to Bursa and cc a copy to SEC. Southsea Gold has to honour this agreement allow Wullerdorf to continue mining for gold in Mantri Block. Lo still owns Wullerdorf. But his control over BAHVEST has reduced considerably.
He will use this gain from public funds to setup another private company and take whoever wants to join him mine another block, Tundung Block. He will then has full control of this new company.
Vote for a new management. Give them mandate to run BAHVEST in good interest of the public. They will come out with a new business plan. Venture in a new business with new partners and expertise. There will still room for growth and expansion.
meaw meaw cat is right. Lo will fight till the end to claim 21m from BAHVEST. if BAHVEST cant pay, then the issue new shares to Lo company at very low price. Example ( rm21m÷0.04sen=5.25b new share to be issue ) that y he cleared most of the share. Just my 2cent