Member Info for GeologyStudent

Both Leboam and Cradle are being liquidated. Their incompetence knows no bounds.

When I sent an email to Dominic 'Clueless' Doherty, a received an undeliverable email from 'postmaster@Penmin.co.za'. I speculate the con crew are working for Penmin now, with Kevin Van Dumber as their MD.

CRA assets will be sold and all proceeds will be used to pay off creditors. Funnily enough, one of our creditors is Penmin - a company owned by Kevin Van Dumber. There could be a situation where all CRA assets will be transferred to Penmin (except Mowana). In any case, shareholders are unlikely to receive compensation.

The acquistion complied with all regulations as it was approved and facilitated by Strand Hanson (our NOMAD). The type of acquisition is classified as a reverse takeover. On another note, the future of Mowana will be broadcasted by third party sources, at which point we can determine if anything underhanded has occured.

Kevin Van Dumber will retire on his lavish private pension. Hope no one will ever employ Mark 'Con' Jones and Dominic 'Clueless' Doherty again. One thing is for certain, the capital markets have a long memory and therefore no funding institution will ever touch an enterprise involving these individuals ever again.

I do not know of a single occasion where a producing mining firm has delisted within a year of IPO. They should be listed on the Guinness Book of Records.

Dominic Doherty no longer works for Cradle Arc as his email address has been deactivated. Funnily enough, Mark 'Con' Jones' email address is still active.

Delisting on the 5th Feb 2019. Looks like it's over.

is correct, not only have we lost Mowana, but also all the other assets. There will be nothing left for shareholders after this is all done.

I think we have all misread the RNS. The 'Company' implies CRA, not Leboam (Leboam is not in administration). It is entirely possible that the judisicial order is still ongoing and is scheduled to be heard in February. However, given CRA will be in administration, I fail to see how this will occur. The RNS is ambiguous.

If CRA can secure the tax rebate from HMRC, we can keep the lights on for another six months. There is no chance of developing the Matala Project. Our best bet is to sell it - which we've been trying to for the past 12 months - and use proceeds to reinvent ourselves. Maybe Con Jones and Kevin Van Dumber can start up a mining consultation business?

I had already dismissed the probability of securing further funding as our creditworthiness was so abysmal, no lender of sane mind would have agreed to lend.

1) Chairman and two NED's resigned.
2) Institutional shareholder divested entirely.
3) Significant shareholder, who oversaw the implementation of drilling and blasting equipment, divested entirely.

Ultimately, we are to blame for being naive.

A large portion of our debt is secured and therefore all proceeds from the distressed sale of assets will be allocated to debtholders, thereby leaving ordinary shareholders empty-handed. The secured debtholders will subsequently form a new entity, operated by a management team different from the one appointed by CRA. Further, CRA will no longer have involvement in the Mine - in any capacity - as they have proven themselves incompetent.

contact number for Kevin and Roy directs you to the company secretary. The company secretary are equally useless.

Looks like they are no longer bullish. CRA is not in their top 10 picks of 2019. From my understanding, they had approx. £150k in this dog.

They've got two months to secure funding. I'm not optimistic but there is still a glimmer of hope. Given the fact the plant has been repaired, this is an attractive proposition for any potential funder at this level, given the 'sweeteners' that may be added.

raised will be used to pay outstanding salaries and other expenses, and not for working capital headroom. We will most likely be diluted by another 100mill shares. Hopefully, we can secure another debt funder. The debt funders will want warrants so, if funding is forthcoming, expect a gazillion shares in issue. Better than nothing.

still have the Matala Gold project which we've been trying to flog for the past year, unsuccessfully I may add. Given the farce over the past year, CRA will be worthless without Mowana as no one in their right minds will offer a loan to develop the gold project. Our current JV's are a sham as nothing will come from them for at least 3-4 years, and even then it will only be 5% royalty fees.

Quick research suggests this will allow Leboam to restructure its debt, whilst offering temporary protection against any legal proceedings fronted by debt holders such as convertible loan notes, which are due at year-end.