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''but someone will do time for this and I will make sure they do ''. And how will you manage that George?..The jig is up, nobody will go to jail.Cononish will either close altogether or run under another flag with zilch for former shareholders. As I said the jig is up and the game is over.
Whatsapp group
BTW coz I've been here before. If the sly mfs don't continue as a going concern this board will get shut straight down. And unless we make contact on other Co boards our wealth of joint knowledge will be scattered therefore we as shareholders will be weakened. Somebody suggest something
Yes is starting to look very much like a total conspiracy. The leaked emails must have been connected with where we are now. All the evidence is there. Who the victims are other than us now Mug Punters is questionable but someone will do time for this and I will make sure they do
Failing to meet targets/forecasts isn't a crime, even if it happens repeatedly. Intentionally misrepresenting key facts to investors and lenders would be fraudulent but first you need to prove it. Some of the misdemeanours which *can* be proven are:
1. Fake new gold vein discovery news;
2. Fake first gold pour;
3. Misleading Edinburgh investor presentation;
4. Mining outside the Cononish permit area;
5. Discrepancies between reported and actual production numbers.
I'm afraid to say... prepare for your losses ladies and gents. Without accountability, this mob will run away with it. It's over. If anyone ever fancies a get together in tyndrum to lament the losses, and buy an effigy of TB, count me in. Guy falks night. I'll provide the fireworks. More blasts than the mine.
No thanks.
What would William Wallace - the real one, not the Braveheart version - have done?
I think the disparity between production and promotion would be key. Reporting deadlines too. Much information was withheld until it caused collapse when it leaked. I've not interest in listing irregularities as i'm not a shareholder but if I had considerable skin in the game, as many here must have, then I would champion a collective effort. BP to lead the charge?
The Edinburgh presentation is still viewable.
Which facts and figures?
In short, all of them.
Too vague. Which "facts and figures" are you citing?
And while the chairman's AGM comment looks dodgy - especially in hindsight - it's not a crime. There are many legitimate reasons why the BoD might not want to reveal some information to shareholders.
The 'facts and figures' presented in Edinburgh should constitute strong evidence.
The second vein should constitute strong evidence.
And the big one: the AGM where the chairman told us that they'd shared what they were comfortable sharing. No judge or jury could possibly conclude anything other than they had other information which they were not comfortable sharing. But was withholding it criminal?
imo
To mount a credible challenge, you need proof of misdemeanours. I believe that SGZ have scammed shareholders, lenders and suppliers left right and centre by making promises they knew they couldn't deliver. But a judge will need to be convinced that SGZ set out to deceive and were not simply (and repeatedly) incompetent, error-prone and/or unlucky. I think there is enough evidence to persuade a court that the fake news spike was an intentional scam so I would go for the low-hanging fruit.
But if you can list some proven misdemeanours which can't be excused by incompetence, etc, let's build a case.
It's not with a view to proving misdemeanours, more informing the board, if this thing collapses, they're would be consequences beyond what they think. The shareholders would look to act. Proving director negligence and covering up of business critical information wouldn't exactly be hard. Leak after leak. Financial mismanagement. Misrepresentation of position. Withholding critical information etc etc. Easily done.
The point would be to ensure those in control, don't think abandonment is an easy option.
Also, even though you may be correct that the PLC may not exist by the time of proceedings, the veil of corporate indemnity doesn't work if there is any form of criminality involved and therefore personal liability from directors would be possible, should this be the case. Speaking hypothetically of course.
Waste of time without proof of misdemeanours…but anyone who bought shares between 40-66p on the fake news spike earlier this year does have a case against the company since there is evidence from the BBC that the fake news was delivered to them by the former CEO who was preparing for another fund raise. By the time any claim for damages gets to court, the PLC will probably have long ceased to exist but its former directors should still be liable.
If I were a shareholder, i'd be getting together to organise a meeting. Online or other. To send a letter directly to the board asking certain questions.
It wouldn't surprise me if the BOD or other were watching developments to see if shareholders will be militant or moping. The observations may well guide their confidence in cutting and running. I'd be putting the pressure on so they know it won't be accepted.
Does anyone else notice, all the bad news is drip fed, all the cover ups and scattered over time etc. Gently gently.
If you want to protect your investments, get active and hold them accountable. Or pay the price.
Baz, you'll surely not be lost for words! We don't now have tales from South Worcestershire, but you could amuse with your riveting adventures in Beni!
You just have time for a week there before Q3 results RNS.
Till then, zzzzz, R.
''Hopefully also, some posters might not continue to bore us with their fixation with another former poster!''. RH,when that dies out here will be nothing else to talk about.
Hi UncleBob. I made good profits earlier on impending 1st (abortive). 2nd (successful) planning permissions and later funding success. Least said about the final funding failure the better! Still, you can't win them all!
Hopefully the fates of Sirius and Wilko will not come to SGZ, but there seems little UK appetite for physical resource investment just now as witness the difficulties facing TUN and zero applications for the last round of government offshore wind turbine leases. Let's hope SG have some luck in raising some cash, as sub P1 production in June/July/August may keep the lights on and perhaps pay the loans interest, but P2 level production will be needed if the loans are ever to be repaid IMO.
Hopefully also, some posters might not continue to bore us with their fixation with another former poster!
Hi I actually managed to double my money on SXX but only by luck, bought right near the end when they were looking at issuing a junk bond to secure funding. When Anglo American bought them out shares popped and I sold immediately. Was lucky some of my work mates not so much lost large sums of money. That was when I realised only to allocate a small amount of money into start ups and to be well diversified.
Hopefully will see some good news soon.
So where is GD now? Is he still swanning around Tyndrum kidding himself he owns the place with his rented supercars or has he crawled back under the rock he came out from?
UncleBob, you lost on SXX too? Maybe Deja vu here too, but hopefully not.
From the RNS plan going forward, it sounds like they are going back to the original BFS mining plan of 2015. Pity they didn't stick to it in the first place.
Andrew, "If you are proposing things were ok and good decisions were made, I would beg to differ." I made no suggestion, but just answered your question with something that I thought you might have overlooked.
BP, keep hoping.
Kay sera, R.
So you expect a big investor to buy it for pennies on the dollar and take it private.
Sounds like Sirus Minerals all over again.
BP - this is a pre-administration ritual. They need to show that they have explored all the options in order to pre-empt creditor and shareholder activism when the guillotine falls. Basically, this ritual gives them a defence against daylight robbery when the mine thrives under new (private) owners.
BP
The old saying 'you are never alone with a schizophrenic ' springs to mind
Now your Mr Sunshine?