hi does anybody know how they are paying out as I held in nominee in TD but cannot any credit as yet, suppose will be credited to account shortly anybody else on TD similar situation know whats happening
Yep, invested here too. Like all long-termers, this was the original vehicle and then LEN split off.
Not really been keeping up-to-date here really but I imagine we're going to remain suspended for quite a while yet. It surely will take some months, if at all, for us to find a suitable investment and complete it.
I see our market cap is 3mAuDollars = £1.5m, and this equates to roughly what cash we have. This was always the poorer brother of LEN in my eyes and yet that ended up with nothing. Glad I got something back for my loyalty and managed to spin out a couple of hundred pounds at the end buying more LEN @ 3.75p about 6 weeks before the 4.1p payout.
Will check back in when we have anything to speak about. GL
well no-one else seems to be interested enough to comment, so I will! This company took a sizable chunk of the Leyshon assets when it split and has subsequently done so little that even AIM won't let them give each other more shares, or sell more to gullible new investors, and that is saying something when you fall foul of AIM regulations.
So instead, we are locked in, the shares are unsellable, a large amount of money has been lent interest-free to an obscure outfit on a vague promise of letting us have it back sometime, and meanwhile the company has spent more than a million dollars on admin and "evaluation". Plus over $200k in the last three months alone on "Mt Leyshon holding costs", whatever they are.
Every RNS says resource times are tough but that also gives us good buying opportunities. Yes, it does, but have they bought anything? No. What are they waiting for, prices to go up again?
I just find it hard to believe that there are worse ways to get screwed by companies than to be traded on AIM, but these guys have managed to find it! Would anyone have voted for this if the resolution had been put "should we just hang on to a ton of your money and do nothing for a few years until it has all gone, while you are locked in?"
ALL THE AUSTRALIAN discussion boards are saying the same thing.....THIS IS NOT 'PROFESSIONAL' BUSINESS PRACTICE (no matter what country you come from, whatever your language)..........Try...http://hotcopper.com.au/.... There are many others to look at too.............And 'STRONG CASH POSITION' quote! You've got to be joking.... the three million working capital from over a year ago is now down to just over one million.........Looks like they've had a swell time at everyone's expense......If you look at the RNS's too, they never change them, apart from the top few lines. They are not even bothered enough to write a RNS once every 3 months.
Agree with both of you. We give away £ 400,000 to a company nobody has heard of ( and we almost committed a total of $ 13.5 mio ) and are now told we have a strong cash position with working capital of £ 850,000. I think I would be happy to see them put half a dozen bets on the roulette wheel. At least that way we might get some money back.
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