Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Some poster said they phoned Shead and he sounded very off, like he'd been reading the boards and become a bit miffed off... Is it coming full circle yet?
Let's hope there's some mileage in this ! Whatever can be recovered is going to be most welcome :-) Happy Xmas
If that were true, it implies that they think they have new grounds for arbitration plus have arranged the funding for it. Unfortunately, I doubt they could have come to that conclusion and agreed funding in two days. I suspect it's just a misinterpretation of the RNS.
I find it impossible to believe our RNS' weren't worded optimistically to let Darwin and RAB head for the exit. BUT to be honest, we had several signals shoulda said sell. 1. Lamm getting hired to represent Russia v Yukos in an appeal. 2. Why the changing of the RNS wording from extremely confident to confident. Why the change in tone? I think both sides either knew, or had a very good idea of the outcome, the main reason being reason one above. Would Russia turn to a legal team who've just been unable to prevent a payout of $400m to $1b plus? Alas I didn't sell and now have 700 and something thousand shares worth about as much as an exclusivity deal on chocolate fire guards.
Bad though it is, I do find myself having to agree with Onion on this point somewhat (does that make me a bad person)? Of course, we have not yet seen the full report, but every half-year RNS etc. was "extremely confident" or "confident" and "blatant misappropriation" etc. Never once did I get the impression he thought we would lose to this extent? To get $10m is worse than anyone could imagine, and dismissal of both, still don't understand that!! Even Pettycash (the harbinger of doom and gloom [or reality!]) was predicting low-ball $50m-$80m worst case!! :)
As far as I'm concerned it's impossible to go into arbitration seeking that level of top end compensation and come out with what we did and have a CEO as (PUBLICLY) confident as Shead was. To come out with next to nothing rings massive alarm bells in my head that he knew deep down the arbitration panel may have dismissed us for whatever reason. I reckon he had his doubts but they were kept secret
After the Arbitration judgement does OXS have any title to or 50% of a mine in Uzbekistan ? Did we own or lease the machinery which is still in situ ? What happens to the machinery now ? If we still have an ownership interest in Uzbekistan would a rapid rise in the gold bullion price in 2016 ( due to Fed QE4 perhaps) mean that the hole in the ground might again be of interest to the Chinese to buy it outright ?
One defunct mining company. Key assets comprise: 1. A $10mm receivable owed by corrupt regime. Probability of recovery highly uncertain 2. A Drilling Rig, used condition, last seen somewhere in Uzbekistan in 2011. Buyer must arrange collection. All offers considered. Please contact Mr Richard Shead.
Action fraud say other wise as he is not registered with the FCA and I can prove all i have stated Both are taking this up and i have 2 crime ref numbers, its being passed to the NFIU! Say what you will but a crime was committed! The scam was pump and dump and he made 4.5k on top He can put his points across when they find him however as i said I have all the emails and texts and his account details that the money went in! I was told i was lucky i did not give him access to my HL account maybe you could convince others here to do so! Have a nice Xmas
I really can;t see why this shouldn't be made public now
I did think that the Uzbeks blocked the Chinese Consortium deal that would fund AGF Phase 2, but maybe I was wrong? Doesn't appear to be much of a paper trail on what really happened. And he Uzbeks have acted as if Oxus were in breach of contract by not meeting milestone commitments. Again I can;t recall what the Uzbek claims were, and I'm not sure that they were ever made public Although I think that the fact that the PoG was rising like crazy at the time was the real reasons that the Uzbeks shut us down
I did think that the Uzbeks blocked the Chinese consortium deal, but maybe they didn't? Doesn't seem to be much of a paper trail on what really happened their. And the Uzbeks have acted as if Oxus were in breach of contract for failing to meet milestone commitments. Again I can't recall what their claims were, and I'm not sure that they were ever made public
Is the point of dissent the tell? The fact that the dissent seems to have been on the issue of whether Oxus were to blame for not meeting the relevant AGF milestone commitments, then maybe it's as simple as that. The big unknown is why the Chinese consortium deal was not approved, and whether the Uzbeks had a hand in that. We may never know the answer to that. Oddly I can't recall this point ever being really debated on the bb's
I think that is the only thing left to ponder. Does the claim on both assets being dismissed yet recompense for the taxation imposed count as a loss or does the fact tax was returned, make it therefore technically a win. Then factor in out that $10m we are liable for 50% of 5 years of arbitration costs, we're not looking great.
as the lawyers were on no-win-no-fee basis. This might mean that Calinius get a windfall without spending a dime, other than paying for trial related expenses.
Every case is different , of course we rely on our BOD to present a good case . Oxus by the way didn`t lose , I am sure the $10 million will be enough for the third party funders to get their money back. As usual , just the shareholders are disregarded. And May
If CamKite was in control of your account, you must have done very well out of some of his other shares. I'm also at a bit of a loss as why you feel he would deliberately lose you money. Surely if you're paying him it's in his interests to make you money for that relationship to continue, no? This share was huge risk/reward, but I think we all researched and factored out the total loss part, and were guessing somewhere between a lowball offer and all our dreams come true. Surely was in CamKites best interests for this to make multiples so you make money and pay him money rather than see you broke and get zero no?? Anyway, I am sorry for your loss, my loss, everyone loss, and worst of all was the timing.
I started talking to him a while ago on the ADSS board and he posted his email address to an ther member, I felt at the time he was a decent chat so I emailed him too, But who made first contact is not going to change that he conned me! This is a very inbaressing story for me but i will keep you up dated. I feel lucky that my marriage was not distroyed due to this but there was a time when the wife left me because of the con, I have the texts from him saying i,m better off without her and we would make the money back and to stick with it! I have some calls to make and then its time to spend time with my family so, Happy Xmas to all
I am so sorry to hear all that. Its not so much you have been a fool as some and yourself say, it more that you suffered the same as we all do. That is to say, we hope we can believe all that is told to us, so we do as we are by nature wanting money. Rationality is substituted by both greed and hope, but most importantly the perpetrators who enforce that hope and greed are in fact the greediest ones of all. The problem is they need the likes of us to feed that greed and have not the slightest compassion should they screw you over financially, or even screw up your life. Today one of us will learn or die skint, tomorrow a new 1000 of us will be born and ripe for the same old treatment. How long all this can go on is anybody's guess. But with leverage and so much money being able to be made with fractions of movement using cfd's, shorting seems to be more affluent by the pro's and knowledgeable of info these days. Yes that includes the knowledgeable of info which makes it a very unlevel playing field. In short vulnerable are needed to by real shares so that the knowledgeable can trade riches all the way down and on the spikes up.
Answer me a question if you could please. Who approached who first. Was it you who contacted Camkite first or not ?
Rhodi - they will without doubt carry on the claim in the French national courts, it's the only possible way now. They can however only claim on a point of law and by the sounds of it that only point is the Uzbeks states 50% ownership of AGF and therefore 50% liability. I would forget Khandiza at all now. Even of that is then successful I wouldn't imagine a mega payout, more like restitution only. We have lost and lost big time. It'll be another couple of years now until it has been thrashed through the French courts, more dilution and more uncertainty. I imagine that this will open up at around half a penny if we're lucky and when I say lucky I mean if RS manages to sort our financial situation out or we may never trade again at all.
I would like to thank you all for your support and advice and will be taking it to the all the relevant bodies that you have advised, It was very hard coming on this board and admitting how much a fool i have been but I was not propard to see him do it to anyone else! I new that this one was a pump and dump but he was so convincing when he phoned me that i could get all my losses back in days that i took another chance in trusting him thinking there maybe one decent bone in his body! I know that shares will go up and down and its a gamble but what he did to me and feel i,m not the first was sick, His a conman and sadly has many names on this board! Wishing you all a very merry xmas and new year, Many thanks, John
The point is calunius is the funder of lawyers. So how much, if not all will calunius get from the $10million plus. Will they be disappointed with the return for the hours they have put in and money they have paid? There is still a little hope as just mentioned below by rhodi and lucky. Should they manage to take it further then it would look more solid than ever to me for all the obvious reasons connected to that. In all seriousness though, whilst that is the best we can now hope for, I and not very convinced it will happen. Sorry for anyone hurting over this, Wishing you all a happy xmas and better 2016.
I would like to think we could take this further