Chatham Rock Phosphate - CRP

[NT001]

Trans Tasman Resources having another go, after all

http://www.stuff.co.nz/business/7454...re-from-seabed.

[Crackity]

Trans Tasman Resources having another go, after all

http://www.stuff.co.nz/business/7454...re-from-seabed.

He is such a joker that Chris Castle chap.....Anyone tempted to donate money to a cause should perhaps consider the City Mission instead!

[Balance]

https://www.nzx.com/companies/CRP/announcements/274545

Oh dear - $800k.

I do like this though from Chris Castle : “We have a duty of care to our shareholders regarding money spent.”

Give the guy a knighthood - he is a LEGEND!

[artemis]

The EPA won't be happy carrying this outstanding debt on their books and will be under pressure to do something.

They must have known that CRP would take some legal action, given the to-ing and fro-ing on the disputed amount. I'm thinking they will be OK with getting the courts to decide who should pay what. Then they don't need to take responsibility, and if CRP falls over because of the action, blame the judge.

I have run across such an approach before by a government department - twice in fact. Money not quite in the same league! In each case, the department offered no defence - it was cheaper and easier (for them) to let someone else decide. After all it wasn't their money. In one case, the court decided, in the other it was a review panel. Won both times - well, no defence was offered.

Not saying that is that is the case here, but would not be surprised if only a half hearted defence to CRP is offered. In which case CRP might get costs.

[NeverQuestion]

Might have slipped under the radar

https://www.nzx.com/companies/CRP/announcements/277005

Hopefully this will help convince the environmental benefits of using rock phosphate!

Since using conflict phosphate isn't a good enough reason to switch

[artemis]

Announcement from CRP today that the Ombudsman has agreed to investigate the way the EPA handled CRP's application for marine resource consent. That is a good thing.

On the face of it CRP has some compelling issues, which Mr Castle has made public in the past.

Of course the EPA may have equally compelling issues.



Watching with interest .....

[cammo]

https://www.anzsecurities.co.nz/Dire...spx?id=4098640

whos got 600K to give to CC?? any ideas?

[Joshuatree]

Great book review on national radio."we are intrinsically trusting. Almost anybody can get conned if the artist is clever enough. The Confidence game" by Maria konnikovaand why we fall for it every time explores the technique of the con "etc. Con Artists convince you that it was your idea. Bernie madoff created waiting lists so people were relieved when he finally took their money. "Im not taking anything from you I'm taking what i deserve."

[barleeni]

Announcement today:

https://www.nzx.com/companies/CRP/announcements/278981

Particularly interested in the last paragraph "CRP holds a strategic, multi-million tonne organic rock phosphate deposit uniquely positioned to access Asian and Australasian fertiliser markets. It was granted a 20-year mining licence in 2013" which is true, but they forgot to mention some pertinent information along the lines of (these are my words not theirs of course) "however the Government has since told us to f**k off and sent us an invoice for $2.7 million to cover their costs of writing a letter which in summation read 'get f**ked'"

[upfrontal]

The identity of the mystery $600k contributor is now out (NZX release today)
George Wong Kim Pau and Happy Sim
Bit of digging, they are based in Singapore but both have a 5% shareholding in CASS offshore minerals. Cass Offshore Minerals Limited (CASS) was established as the parent Company to both Ironsands Offshore Mining Limited and Pacific Offshore Mining.
Some very interesting stuff about these companies on the website http://cassom.com/

Don't know what to make of it, they obviously see potential in CRP but are they investing based on how their other projects are going or is it based on pure speculation?