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''How nlr thinks his reputation will survive this one, is anyone’s guess. '' I don't think NLR will care about his reputation. Any road, I think he was conned just like everybody else. The original figures did not add up for me,too little gold to warrant a whole mine.
RH,
A public enquiry is due imho. Mismanagement, smoke and mirrors. Disgraceful.
How nlr thinks his reputation will survive this one, is anyone’s guess.
Weak board, weak management structure, weak leadership, weak financials, weak strategy and weakest of all… fanboy and marketing puppet tb.
A shambles. The general public deserve answers never mind the shareholders
Wishful thinking to pass the time. More likely nothing will come out and the silence will only be broken when the deed (whatever it turns out to be) is done and dusted. Might as well join Yayay on Mars for amusement!
On a cold Sunday night in scotland, a quiet mine lies dormant in the hills. I can only sit and ponder what the future holds for it.
One thing that comes to mind, is that the board should convene a general meeting and be brave enough to sit and field questions from shareholders. I’m
Sure a lot would like to know more than they’ve been given.
Will they do the right thing and have one? Probably not. Why not is a better question I suppose.
I think nlr would do well to remember, he might burn existing shareholders, but those shareholders still exist and may not be so keen to have anything to do with the mine in any future incarnation.
The only good I can see coming from this shambles now, is that administrators may get in to the business and see exactly what has happened. Where is the millions of pounds of silver. What actually happened with the eventful leaked emails. Who lied and when. A lot may yet come out.
Another lesson might be to never trust ANY share and hold it, but be prepared to trade it. I learned that lesson in the privatizations of the 1980s. Love the music, but not the instrument!
There's a lesson here someware.... never let a man from dorset who builds attic's tell you how to mine gold in the highlands of Scotland. Who'd of thought it.
Sad day for tyndrum. Surely the village must now know that any future economic benefit has long gone. No matter who takes over, it will never match the spin put on it.
As for the national park. I hope the NPA have taken enough in bond payments to cover restoration as last I heard, payments were behind. Surely the good public shouldn't foot the bill for restoring a private disaster.
As tyndrum boy once said.... NLR is a "very honourable man" and will no doubt ride to the rescue... for the benefit of.... NLR!
Amongst other "victims" of this fiasco, it's the National Park and many of the locals I feel sorry for. They held firm against the expected kneejerk opposition of various members of the "eco lobby", and after a very, very protracted process, which must have cost them huge man-hours of work and deliberation, gave the green light to a project which they, like we, were given every surety of success for shareholders, workers and the local economy alike.
Don't worry about the recent prose. It's how you get after 13 years!
I can't decipher some of the prose in recent posts, having not picked up on this until recently. Sadly I don't think there is any chance of there being anything left for equity holders. The project may survive, with a much changed balance sheet after being sold off by administrators or through a liquidation process. If not then someone has to clear up the site in what is a National Park. Not sure who would foot that bill but it would need to be done for safety let alone (from what I have seen) aesthetically. Sad situation, my commiserations as it is a project I may have been drawn to had I known about it. GLA.
Mr Rocket, the canal folk will survive, albeit with less expectations of untold riches. There are some firm foundations to the local economy, and the folk have not let the disappointment of the Tyndrum extension quash their spirit of enterprise. The Shy Lockkeeper's daughter is churning out a successful new line in samplers, 'Put Not Thy Faith In Gold', Mr Patel has put in a bid for a number of former Wilko stores, the Rev Grimm has taken a 'Team Ministry', embracing Northumberland, Suffolk and Cornwall in addition to South Worcestershire, and Sir Jasper will be turning the grounds of the Hall into a theme park. Our two favourite characters, though, are showing the most imagination and grit of all in the face of adversity, when they will be appearing on a Saturday night talent show with their own unique act, harmonium playing on horseback.
Could the future be NLR Ltd or even a UFO?
Even Mr. Rocket has given up hope of bringing a wheezing steam monster to the district. The only benefit was a trinket for Mrs. Rocket. What future for the canal folk now?
Wonder where all that silver went!!
...finally gives up the ghost. I fear Miss Wemyss will now be susceptible to any offer from the first chancer that comes along, however unpalatable. She deserved better, and Champion deserved his gilded halter after all these years of loyal service. What a shame.
If NLR screws over retail shareholders he should be made to feel the consequences of that on a personal basis. Everything he does, everywhere he goes. Other people he does business with.
Make it personal.
Them's the risks of screwing people over I'm afraid.
@Andrew1987: I agree NLR pre-pack, having milked us for all he thinks he can get. But i doubt there's anything that'll get even close to court.
Them's the risks of AIM i'm afraid.
Not one bit of insider trading in any photos of course. Nothing learnt the average punter wouldn't know of course!!!! Court time now I would suggest.
Oh what a wonderful story....
https://twitter.com/IstGoldRound/status/1534219116516622336/photo/1
Nostalgic for the days, the dark side, said administration would never happen and such a suggestion was prosperous. Where are we now TB.
In the words of castro. History will absolve me.
Still nostalgic for the old days of yourself, the Hon. Basil (Mark 1), the Shy Lockkeeper's Daughter, Sir Jasper, Champion the Wonder Horse, Miss Wemyss and the all the other colourful cast of characters. Happy days, while we waited all those years and years for SGZ to deliver.
And very little harmony either yay😁😁😁
Bogger! No harmonium! ( You have to have been on this board for a VERY long time for this to make any sense :) )
NLR being the main creditor will buy the business on the cheap. Then either sell it, mothball it until the heat dies down, or run it in another incarnation. I said this months ago and got lambasted by Tyndrumboy/samson/genoir etc for doing so. He will leave shareholders behind.
If anyone see's tb about the tyndrum inn, be sure to ask him for your money back.
The problem with a pre-pack is that it doesn't allow anyone else to bid for the assets so shareholders will never know whether the administrators could have realised more cash through a routine liquidation process. On the plus side, administrators tend to like routine liquidations because it means a bigger fee…but nothing to prevent a pre-pack buyer from reaching an equally lucrative deal with administrator, ie over-paying him for the amount of work involved in a pre-pack.
Is it also possible that the ground is being laid for an opportunist company to purchase the company or key assets for a song? That might benefit some director/s or significant investor/s? SXX springs to mind!