Why does a de-listed coal company have Australia's top international dispute lawyer on its board of directors?
Do the Australian mining speculators really want to dig for the province’s low-quality Rocky Mountain coal? Or are they mining the courts for Alberta taxpayer dollars?
Atrum Coal Ltd., has no active mines. Just a dubious property in the Alberta Rocky Mountains with no rail access to road or rail. So why are Australian investors pumping millions of dollars into a company with zero revenue?
Answer: Because they are betting that the Alberta government will be foolish enough to give them a big payout on Atrum’s only asset: A lawsuit against the taxpayers of Alberta.
From Atrum’s final quarterly activities report dated January 31, 2025:
“Atrum and its wholly owned subsidiary Elan Coal Limited (“Elan”) have commenced a claim against the Government of Alberta for de facto expropriating Elan’s coal leases and are also seeking monetary compensation pursuant to the doctrines of private nuisance and unjust enrichment.”
During the same quarter Atrum raised A$5.8 million in new funds from its existing investors.
Atrum was automatically delisted by ASX, the Australian Securities Exchange, on March 10, 2025, two years after trading was suspended when the price hit A$0.004 per share and the company could show no actual operations.
Enter Konrad de Kerloy
On 1 January 2023, Atrum announced the appointment of Konrad de Kerloy as an independent non-executive director to the Company’s Board. De Kerloy is an eminent Australian lawyer specializing in international disputes.
“Konrad de Kerloy is an experienced trial and appellate advocate. He has appeared as lead counsel in cases in the High Court, Federal Court, Supreme Court, District Court and the SAT. Konrad specializes in major commercial disputes and dispute resolution involving corporate governance, directors’ duties, banking and financial instruments, breaches of contract, professional negligence, corporate insolvency and reconstruction and industrial and employee disputes.”
De Kerloy describes himself as an “expert in international arbitration”?
Atrum’s 2024 fourth-quarter cash flow report to the ASX (Australian Securities Exchange) reports zero income from operations and legal costs of A$1,044,000 for its lawsuit against the Alberta taxpayer. Atrum paid its own directors, including De Kerloy, fees totalling A$ 82,000.
The lawsuit is scheduled to start April 28, 2025, unless Alberta’s UCP government settles out of court, to avoid the truth emerging about what promises it made to the Australian buccaneers.
Because Bullshit Barbie is selling Alberta out, again!
Is the NDP campaign Ours, Not Mines your campaign or is it a fundraiser for the ND
Not sure who to ask.