The current situation.11 Jan 2020 18:28
This is my first post here, I am in for £11000 grand at 15p, retired at 60 ill health ,ex Coal Miner .Once a miner always a miner, at least in my head. I loved this project probably because of my backround and that's why I invested.I am so disappointed. not only because I am down 7 grand at the mo but because it seems such a stitch up by the B.O.D. and yer man Frazer and his cohorts. All that faff about investing in local community projects, planting trees ,landscaping etc.
We all know why this was done, to get planning permission of course in a protected area. I have lost what I have lost if I cash out (still in) .Basically it stinks, SXX targeted local investors promising the earth to get over potential local environmental concerns but even more so getting local people to invest in this company. I am not local but share a coalmining heritage with the local area. I am Welsh an if this project happened to be in Wales I am sure I would have been in earlier and for much more money .Most people from areas like this would have been behind the project ,not only for sentimental reasons but also to invest in the local economy which have faced hard times for decades at least. lets be honest here most local PI'S have sunk their pensions into it, or at least a significant proportion of it.
We are in a new environment .There's going to be no white Knight .In my opinion we are all screwed. The UK Govt. will not help us, even though they should considering the upside in the long term, Lessons learned.
Chris Frazer, whichever way his name is spelled, should be ashamed of himself and the rest of the board of directors should be too.
This post may seem to indicate that I am bitter about my failed investment. On the contrary, I lost money, I could have lost money on a blue chip investment .You take your chances on stock market you just don't expect to be lied to though.
The mine will be built however, it will be built on false promises and every local investor and their offspring that has lost money will resent this project for generations to come, and so will I
Whichever way you look at it those of us who invested in good faith, for the good of all, have been fu***KED over ,the winners are the B.O.D, JPM and the Institutional shorters
By the way ,I have no problem with individual canny shorters ,if it means anything, I think this share should be suspended .There should be a full investigation .