Member Info for Castaway

Short term the s/p depends on a discovery with Vutomi at Thorny/Mars - this looks good IMO, but there is not much downside - they have Sunland and Maibwe and the JV with VAST, all company making prospects. BOD should be getting income from the Marsfontein tailings as well

https://www.youtube.com/watch?v=1XOL3MAL31E&feature=youtu.be

I think it's a requirement of the listing to have an audit committee - NMC's has been in place since 19/3/2012 https://nmc.ae/finance/terms/audit-committee-terms-of-reference.pdf

Risk - they calculated it had increased - they were correct

Kingrav is correct, since the rule change they can only take what is currently in your account, unless you are a professional client. You can refund your account and trade as if there were no excess losses going forward.

If you are short and the company goes bust you have to replace your shs from somewhere to close the short - not difficult to buy if they have no value MM's have plenty. If it's a CFD then the s/p is considered to be nil and if your short you gat the complete value of the shs you are short on

Hi ripley, I have also been buying over the last few days, make hay while the sunshines IMO!

https://www.businesswire.com/news/home/20200226005985/en/EQUITY-ALERT-ROSEN-TOP-RANKED-LAW-FIRM

Says the man who always says he is correct ;-)

I doubt the share will be suspended - that is the whole point of a market - at least we get a chance to trade - will drop tomorrow, but there could well be a recovery going forward, depends on what has happened, the company has a lot of value potentially, it's just not clear how much right now.

I hope this is not as bad as it looks, all those who have serious skin in the game good luck!. I have lost serious cash in the past, but not on what appeared a few months ago as a decent premier listed company.
If this turns out to be a fraud things will have to change on the LSE.

New - the only thing I can think of is of hiring Freeh
1) to play for time
2) face off the market and support the s/p so he can sell more shs
3) plead ignorance for his actions
4) BOD insisted he did it

The CEO resigning is not a problem - he was probably out anyway, the COO off due to "illness" is - he is culpable as well as the CEO as he will have had to know of the probable fraud.
The company debt discrepancies (unknown to most of the Bod) is serious as the company could be in trouble.
From the RNS : "In the course of their work to reconcile NMC's cash balances and net debt as at 15 December 2019, the Review Advisers have identified potential discrepancies and inconsistencies in the Company's bank statements and ledger entries. The Committee and the Review Advisers are investigating these matters and seeking to determine the materiality of the discrepancies."
How the company's auditors did not pick this us is amazing!

Well you and a couple of others were correct adzy - this type of potential fraud was always possible and it is not looking very good right now - Muddy Waters had no idea about this it's worse than they reported last year.

I am confused as to why you changed your opinion though and presumably wre long?

Me too ripley - dunno, but diamonds must come soon surely?

So did I ripley - BOD and VAST will do well this year IMO

ripley I think ALS will be good longer term, the royalties will come in in a year or two, but BOD is my pic for this year, along with the perennial VAST

Hi ripley - you have to make money the way you feel is best - there are many ways to do it, I day trade NMC hold BOD and VAST longer term and trade many other stocks in between.

Great RNS today I think we are on with Marsfontein 2 - another few months will see it confirmed IMO

Ripley - well done on SRES BTW - I used to hold those years ago

Ripley - I do trade some shares (NMC at the moment) but shs like VAST and BOD I hold long term - trading BOD is pretty pointless as it's so illiquid. I bought some last September at 1.2p and more recently at around .6p - I have some at .55p and also bought a few years ago above 2p.

IMO BOD is at a transformational point and has a huge upside, IF the current drilling is successful it will be very soon, if not it may take another few months for the other projects to deliver.

This is going to be a good year for BOD IMO, so fingers crossed!