Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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What I do not understand is why Amit poked the nest. I am sure like I was like many others that up until last year had written this off. I do not believe it is to sell more shares. Who would buy shares from the CEO/company if they are sitting on cash and waiting to pay it out. That would certainly raise red flags to any buyer. All he seems to have done now is set himself up for criminal proceedings. I hope some big holders have gone to the Police. City of London police is usually good for financial crimes.
'All he seems to have done now is set himself up for criminal proceedings'... or a payout to shareholders (as per his updates)...? - what seems more likely do you think?
If he's not attempting to gain from spouting misinformation, then he's equally not breaking any criminal laws. Fraud and attempted fraud presuppose gain. Equally, telling porkies is not in and of itself a criminal offence.
As to whether some code of conduct has been transgressed or set of regulations breached, as the company is private and registered offshore (though nobody knows where for sure - it might be Caymans, St. Vincent, St Kitts & Nevis or somewhere else), that would presumably depend on the regulations which apply to whatever jurisdiction CTAG is currently registered in, how rigorous those regs are and how strenuously they are enforced.
Https://www.cps.gov.uk/legal-guidance/fraud-act-2006
Making false representation. Statements that’s further shares were being offered may meet the bar.
"with intent to make a gain for himself or another, to cause loss to another or to expose another to risk of loss.".
As I said, if there's no new potential gain involved or no new potential risk of loss, it ain't fraud.
So if the claim that Amit has not been trying to punt out any new shares since before the first of the alleged IP sale announcements is true, then it's not fraud. It's just BS instead - and in such circumstances, that's not criminal.
"'All he seems to have done now is set himself up for criminal proceedings'... or a payout to shareholders (as per his updates)...? - what seems more likely do you think?"
Payout to shareholders - no chance
"Who would buy shares from the CEO/company if they are sitting on cash and waiting to pay it out"
Believe it or not some people bought heavily last year. I doubt anyone would buy now
Not
The collapse to zero will definitely happen. A lot of people will get rich and a lot of people will get rinsed
The fact you’re at stupid that
*the fact you’re so stupid that you can’t see that the result of a computer algorithm is intrinsically worthless is music to the ears of those who will steal your “wealth” in crypto