Anton "no balls" Billis

Anthony Billis

Anthony Billis, also known as Anton, serves as the Chief Executive Officer and Managing Director of Tribune Resources Limited. Mr. Billis has 25 years experience in gold exploration within the mining industry in Western Australia. THE FAT WALLET MOB.

"I keep looking for gold miners and all I end up finding are IMO money-launderers. Anton must be best friends with ASIC by now. Looks cheap based on the inventory numbers and future production, but the real question is will Anton, Otakar & co share the funds with fellow shareholders or just divert the company assets to self-owned companies."

Anton is the managing director of gold producer Tribune Resources and he is sitting on a $180 million stack of cash and bullion at the Perth Mint. It is not easy to work this out as Anton books his gold at cost rather than at market value. And what a tight ship he runs. Tribune and its sister company Rand Resources rarely issue shares or options, they never boast about the swelling $400 million value of their half stake in the fabulous East Kundana Joint Venture and the fact they will soon be churning out a $90 million profit, after costs. Why then are some of his shareholders restless? Who better to manage your company than the successful and parsimonious Anton Billis? The answer to this lies in the identity of some mystery shareholders. This is a clandestine affair. On the face of it, Anton owns just 13,500 shares in Tribune and 14,000in Rand.

But Rand holds 26 per cent of Tribune and Tribune holds 44 per cent of Rand. Then there is the enigma of who is behind other shareholders high on the register, such as Transglobal, Sierra Gold and Resource Capital. Given the cross-shareholdings, were Anton to be a shareholder in these mystery shareholders, he would be in a position to control more than 60 per cent of the stock in both Tribune and Rand. Transglobal Trust, based in Hungary, transferred its 17 per cent of Tribune to Transglobal Capital Ltd based in the idyllic Seychelles while Sierra Gold Pty Ltd (based in Melbourne) transferred its 16 per cent to Sierra Gold Ltd in the Seychelles.


http://www.smh.com.au/business/sharks-circle-but-on-paper-dont-look-so-good-20140718-3c6od.html