Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Best send in the debt collectors! We give money but the ends of the AIM are clear. No more for me and I need my money back to claim whatever I CAN NOW! NEW is finished now as should be the AIM! !
Croth agree, thats why there is a case for the Nomad and old bod to answer, it was a deliberate fraudulent activity by them to issues shares after suspension to cover the the naked short selling, nothing to do with having assets ready to be invested in as they implied and misled the investors- it was a blatant lie and they have acknowledged as such- I think there is a strong case for the company to take them to the cleaners.
Any deals that didn't settle within a sensible timeframe should be retrospectively be made null and void. I'd happily have my money back and forget that NEW ever existed. Yes it was a gamble/punt based on the situation they created for themselves (I won't claim to have been in before it all kicked off) but going into suspension for such a long length of time until the new shares were forced into existence (against the wishes of the original EGM vote) was crooked as hell. There probably wasn't a realistic way they could have resolved the mess once buy after buy order came in once the news of the forward selling broke but they have got off so lightly with a pathetic little fine while those of us caught up in it have effectively lost everything. So many mistakes were made. It was too slow to go into suspension for a start. A relatively small mess would have been expensive but possible to clear up. By allowing it to go on, they let it get so bad there was no way it could get sorted without shafting all of the investors.
Anyone remember a law firm contacting PIs re the short sell? I wonder if the nomads can be sued on a no win no fee basis. As they have maybe already admitted liability. Food for thought, I would love to see them be made to pay. But I only had 1k in here so no big deal for me. But it is much bigger for others who I feel for. GLA and all the very best.
I think it would be worthwhile putting resolutions at the EGM for the company to take legal advice to recover from the nomad and former bod members the company and its shareholders suffered from their fraudulent acts. Both Nick and Adam will resist this because they are mates with the nomad and their other chums. I think there is a very good chance of succeeding with the legal action because the wrong doing by the nomad is already admitted. Also I believe a resolution to reduce or even replace the bods remuneration with results based share options should be tabled.
There is an EGM to discuss strategy to take place by Friday 10 February with the circular due out this week. Might be worth emailing the action group once that's been published.
Or is anything in the pipeline to either take action or get the body's to look further into this fiasco.
So we have a ruling regarding private Pi's being mugged as have our current Board of directors. Should they be taking up their shareholders case regarding the theft after all I would have thought iit would be all in a days paid work!
From the horse's mouth....“Cornhill accepts the findings of the exchange and regrets what occurred. There was no intent from Cornhill and once the issue was known we co-operated fully to rectify the issue . . . Cornhill also proactively and voluntarily fully compensated all its advisory clients that suffered losses as a result of their trades in New World.” That's OK then. Big naked short seller compensates little naked short sellers and all is well.
Wonder we can form an action group to present and fight for compensation to LSE / FCA. Could Ben T. help on this?
Totally agree. A joke! - fine £210,000! - is peanuts to the broker as many other peeps bought at high price and locked in losing lots of money. Also I think it was under their radar when the scam legacy happened. Not too sure what others' opinions are. Not sure if FCA can be approached to make them into look further into the cases and fine them more. Was it not in the article that they (Cornhill) compensated the investors on their loses? How about the us - the pi?
Get a pay out too..... Some of us lost a LOT of money due to those illegal practices... now they have come clean and admitted it are we all due for a compensatory payment.... ???? I doubt it but it is a proven and admitted FACT now that the PI's were basically fleeced... WHERE is the JUSTICE for the poor individual pi? Disgusting!!
What a joke! Loose change is how I would describe it. At the very least it should have been no less than the money they were paid by NWOG. As it is it looks like a token amount. No mention of the role the Nomad/Broker's part in this and no mention of the role of the directors either. Are they to be dealt with seperately? Or let off scot free?
not a big enough fine for the damage that was caused, and what followed.
The LSE has published a ruling regarding the naked short selling by Cornhill on behalf of its clients. hTTp://www.investegate.co.uk/stock-exch-notice/rns/n01-17---disciplinary-action-against-a-member-firm/201701161429512762U/
Not much chance of that when the three of them get a monthly pay check for doing square root of FA. Unless they are proof reading the Circular for putting in the post before Friday of course (three weeks before the Jersey FCA deadline unless it's been exceptionally extended like the AGMs every year).
probably not lost but had it stolen from you.
is there any hope at all for this company or have i actually lost my investment?
ALL GONE!
And what happens if they resign beforehand
Course it's too much. This share isn't listed so why should he? What we are waiting for is the Circular to convene the EGM that has to be held by 10 February. Turney, Reynolds and Lee will have to let us know what is happening in that and send it out three weeks before so only a couple of weeks to wait. Always at the last minute with this crew..
Pointscorer I don't want to join some group I want Reynolds to put out a RNS explaining in plain English what happened is that to much to ask for
SP up from 23.5p to 26.125p?
Ben is all for the relationship with Big Sofa, as has been stated historically. If you are a shareholder in NEW you can always join the shareholder group and will be kept in the loop regarding news going forward.