Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
My pleasure.
I'm not able to do it right now, however the SGH claim court documents; WTG Response RNS contain many damning facts as to what was uncovered.
Not for one minute do I believe the PWC claim will be the only one
About bloody time too
Thank you Grumpy Scouser for posting the link to the Approved Judgement of 28th August 2019.
I had read the summary but not the full judgement. Whilst I can fairly say I know nothing of Civil Law, Mr Justice Bryant does and he's provided a very full account of events involving Quindell/PwC/Greenhills/S&G.
I can certainly see why he considered the actions regarding PwC to be included.
Para 11
John Skippen, the non-executive chairman of S&G, later referred to as "the most rigorous due diligence I have ever seen".
Para 20
whether information about Quindell could be obtained by establishing a secret channel with Quindell's lending banks, he arranged to meet with a contact of his at PwC, who he described as "the Head of Restructuring" and the "lead partner" advising Quindell
Para 47
Fyi, I am sitting down with the head of PwC restructuring who I know very well to have a quiet coffee – time TBA – he claims to be advising the company! Will report back."
Para 48
Suggestions and requests for information from PwC
I've struggled to find a means of valuing ingenie, however, this very issue was raised as S&G gave some consideration to buying Quindell in its entirety:
Para 49
Questioned why not by the whole plc? As the bits we don't want are small and easily separable or shut down (as to their value who knows but telematics fascinating technology, cost a lot to buy and could either be worth a fortune or next to nothing – sells for + 30m could be 200m today and ???m tomorrow)
Some indication that S&G at least considered a higher price for PSD
Para 63
Amongst other matters, there is an internal note of 23 February 2015 which says, amongst other matters, "Maximum price? – (700)". So there is at least some evidential material, that S&G may have been willing to pay more.
Loads of references in emails relating to the usefulness of the PwC contact; priming this individual for specific information and; the need to keep the contact discrete.
It is possible yet that PWC may settle prior to a hearing. They may consider that an out of court settlement would be advantageous in order to: minimise reputational damage; retain the anonymity of the Head of Restructuring; prevent the disclosure of internal correspondence; avoid the distraction of legal proceedings and; reduce the compensation to be paid to WTG.
On the basis of the information I've read, I think that WTG has a strong case. I'm prepared to wait for the issue to be resolved. I bought a few more shares after the initial surge on Friday.
I note everyones favourite share pundit, TW, is reporting a suggestion the first of the QPP gang is to be charged this week.
Hi, Grumpy. RT could get PWC as his adviser . Sure they could facilitate a good price. Perhaps ÂŁ35 per bottle with a little bit of toing and froing .
ÂŁ100 per bottle - never let it be said he undervalues things.
What happened to the prolific poster A E Marsh. Has he disappeared?
@addicknt: no idea at all about RT. There was an announcement about him relinquishing all but family company directorships and speculation (total) that it was possibly related to the ongoing SFO investigation which the company was cleared from.
Time will tell: perhaps he's drinking the English sparkling wines he makes and which he values at ÂŁ100/bottle.
ATB.
Hi, Grumpy. Pleased to see you guys have at last got some cash back and hopefully more to come.
Have there been any further rumours/info on what's happening re RT?
It's...denies and will vigorously defend the claim
you haven't read the background from last year (which EK clearly has not) :
https://www.bailii.org/cgi-bin/format.cgi?doc=/ew/cases/EWHC/Comm/2019/2371.html
Brilliant news
will be interesting.
I'm wondering if any late reported trades will suddenly appear
Hi addicknt: long time no see.
Couldn't agree more, its been a long road. The PWC documentation made fascinating reading when it first came out a year or so ago.
Plenty more to come.
a shareholder here, but one or two of you may remember me from the QPP days. However, I'm delighted for you guys at today's news. Anything which exposes anyone involved in the whole ghastly saga is very welcome news. I particularly enjoy it when accountants are in the firing line.
In the meantime, we still await the big one.
Good luck chaps.
Let’s see what PWC say. If the case is strong they might settle quickly. Hopes for yet another cheque are rising. Mind you it’s still got a long way to go. I won’t ever get all my money back.
70p to sell
Well I never.
Complete surprise.
Apart from for anyone who has followed the story.
Looking forward to further claims being issued: PWC were not the only ones at fault.
Recent director buy @ 159p
More importantly this claim equates to 137p/share excluding cash at bank
Might take a bit of time but the case sounds legit/fair to pursue.
If successful this will multibag.
This share just keeps on giving !
CORRECTION - PWC were also involved in LC&F audits !
It will be very nice to see an auditor getting a flailing in the courts, they have been responsible for a lot of frauds going unnoticed in recent years eg London Capital & Finance where E&Y apparently saw no cause for concern right up to the collapse of what was clearly a pyramid fraud. My theory is that auditors see 'issues' in companies but dont report them as the bosses want to continue raking in their fees from the clients....
claim for a few multiples of current SP.