Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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For those who were here a long time ago :)
https://asic.gov.au/about-asic/news-centre/find-a-media-release/2020-releases/20-201mr-continental-coal-directors-and-company-secretary-charged-with-breaches-of-directors-duties-and-making-false-and-misleading-statements/
Old, but good news.
Here is something closer, to cheer us up :-)
https://archive.ph/S6GQm
18th August 2022
Headline - Peter Landau pleads guilty to nine charges over money shuffle at Citation Resources and Continental Coal
Content below;
"Terrace lawyer turned company promoter Peter Landau has pleaded guilty to charges, including stealing and forgery, while shuffling money between market battlers Citation Resources and Continental Coal.
Mr Landau has admitted to five counts of stealing, one charge of forgery and uttering and three Corporations Act breaches, including making a false statement to the Australian Securities Exchange.
The Claremont resident pleaded guilty on Wednesday after Federal prosecutors dropped 56 stealing charges and a dozen Corporations Act charges linked to more than $3 million of alleged money transfers in 2014.
The Australian Securities and Investments Commission said in a statement that the five guilty pleas to stealing related to Mr Landau transferring $2.2m of share applicant funds from a Citation bank account.
“Mr Landau did this without the knowledge of Citation’s other directors and went on to use the funds for his own benefit, the benefit of other related entities and to repay Continental Coal investors,” ASIC said.
The director forged and uttered a bank statement that falsely showed $675,658 in a Citation bank account when there was only $117.55 in the account, ASIC said.
And the regulator said he provided it with false documents stating Continental Coal had received $2.6m from investors when it had only received about $57,000.
He gave false or misleading information to the stock exchange by failing to disclose that Continental’s only income generating asset had gone into administration, ASIC claimed. He made another statement claiming assets had been sold when they had not.
The Supreme Court will hold a sentencing hearing on eight charges on January 31.
The Perth Magistrates Court will sentence him on February 7 on a charge of failing to hold applicant money on trust.
ASIC said this ninth charge related to Mr Landau transferring $1.03m from a Continental trust into other various bank accounts prior to securities being issued or the money being returned to the applicants."
P.S Order the bubbly for Feb 7 2023