Member Info for Gord_1

Obviously nobody wants to go down the legal route, but a lot of retail investors have lost a lot of money due to such a large holding being sold down for a profit by an individual who put into force a clause during the IPO, that he then used for his own benefit shafting others by damaging the SP. Nearly £300K profit he made from this scam is not peanuts. After the share-price collapsed, a further discounted raise was done @ 4 to add insult to injury, to fund a Crypto venture that we have since heard nothing about. Did they buy Crypto or not ? thus what happened to that money also and where is an update on this ? Whilst I appreciate that it "may" be a good time for new retail investors to buy this stock as its at all time lows , it is evident that the company is still prepared to issue placings at discounts at the expense of retail investors to those who will flip for a quick profit leaving us to hold the baby one more time, then they disappear without any updates until more money is required. I have lost ££££ and cant see anyway forward unless legal action is taken to protect existing and new investors. If they are allowed to get away with this then AIM is simply broken and the FCA should be ashamed of themselves for allowing such an obvious fraud ( I cant describe it any other way) under their watch. MB helped develop and created the rule in the prospectus as a director in charge of the IPO to stop the share from collapsing , and then broke this rule it at a huge profit to himself and PRIM. Its as simple as that. I will look into a telegram group and let you know. Stand up the these individuals imo. Gla

Steve - I sent an email to IR - no response . The website still has many issues regarding compliance For example, it still states that directors who have left are still part of the audit committee ???, including MB !!! I appreciate that many on here feel that the new CEO will turn this around, however 1 month into his post and he has done nothing. The website is full of errors which speaks volumes to me for a company who has designed and trying to sell an AI tool that relies on companies data and has PR elements to it. The constant daily selling of large type volumes is not normal either, no TR1's , incorrect shareholder values and no explanation on the PRIM situation. Lets not forget MB was party to including the lock-in clause as part of the IPO, to ensure that the SP did not collapse during the first year of trading, however made a profit of nearly £300K by breaking it. This is fraud and corruption imo and should not only be legally addressed, but is a crime. The FCA should be taking action.

Who votes that we create a shareholder group to take action against these individuals ?

Simon - I would tend to agree with you but rules are rules and the company, Nomad and FCA should take notice and no ignore this. There are no such things as NDA's in AIM, its mostly corrupt from my experience, a wink here and short there that you cant trace, but when rules are put into force and are "visibly and blatantly" abused, a line has to be drawn, especially for those who put them into force in the first place - MB. Due to PR1 silence on this , I suspect no action has been taken as the ex CEO may have been up to no good either so hopefully that will come out too.

I calculated that PRIM/MB made nearly £300K profit from breaking the rule they put into force and agreed too, at the expense of retail. A lot more was lost in share cap value.....millions....so action is something that should be sought to stop these people from treating us like muppets. I'm not a lawyer but I have read the IPO prospectus and clearly now when a rule has been broken which could cause financial loss to others. It even states in the prospectus that this rule was applied to stop this from happening during the first year of growth, a prospectus MB helped draft. Talk about retail being conned ?

If the company want to reassure investors that action is in force, then so be it, however right now IR have advised action "may" be taken. Its 3 months now so we are due an update on this simple obvious legal matter. Gla

Sent this to IR :

Hi Amelia,

The shareholding values are still incorrect on the PR1 website. It states 160,440,320 shares have been issues which the % calculations have been based, however 179,190,320 have been issued.

This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules, thus I assume PR1 could at least get this correct?

A number of shareholders are very unhappy regarding the PRIM situation as it has caused considerable financial loss to many retail shareholders who did not expect such behaviour from individuals who were party to applying the rule in the first place.

It is felt that a reasonable amount of time for a resolution has been given by shareholders to rectify this matter, however PR1 have stalled regarding this causing further losses and confidence in PR1 and the SP. As such, shareholders may take legal action against PR1 for failing to act on behalf of retail shareholders interests thus I would like to request that the board of PR1 do something positive regarding this matter and announce such, as we feel their actions have been less than satisfactory.

Pacman - I will put a list of bullet points together....good to see we can try and get recourse from this awful situation.

Sorry to see you have sold up. I just feel that under JS watch the SP nose strangely dived from IPO to June and he then let his buddies in with a heavy discounted placing of 31%. To go down from 13.5p to 2.5 p so fast i can only assume it was shorted or large volumes sold down. ( note JS was a broker before and had a substantial holding) I think MB got out realising that something wasn't right and risked breaking the rules in doing so. (rules he actually put in place) . Maybe MB did so to protect his investment and that no recourse would occur as JS was up to no good also?

JS is still a director of PR1 "Group" according to companies house which is strange as he has been removed from PR1 subsidiaries instead ( PR1 Ltd) The whole thing stinks tbh. No PR, No transparency, No updates and they cant even spell their name right on presentations. They are all city buddies imo laughing in our faces.

Is it right that the small management team are on £1.5M ? Amazing tbh.

"kicked off planning for drilling the ~900 bcf Barracuda field in 2026"........but who with and what is the deal.?

IMO you don't plan these things unless a deal has been done with a major or am I missing something here?

Lol......3 v 21 holes...............as long as they discover the motherload well be all happy !

1600 ( not 1800)

Isn't it ~21 Drill holes over 3 target areas ? with total drilling from these @ 1800m....... I looked at the drill plan RNS and assumed that was the case? I maybe reading it incorrect?

Its mates rates buying in ...

S&S - thanks for the response. I see a 60K buy ( 2%) of the company......not punt money so something is building here. Your right about Navada....its the place to be for minerals and this SP will go nuts on good results....Gla

My view on this but maybe wrong: There were so many investors from the IPO and the last placings etc who wanted a quick flip...PRIM as an example and maybe JS I suspect (as I don't believe his holdings as no TR1's was ever issued when he breached % thresholds from 13% to 8 % ). When these sharks are flushed out then I think the good news will arrive....soon hopefully. Rory probably wants rid of these sharks too and if JS left on bad terms ( ?) I wouldn't want him to benefit from my efforts. Why make him rich on Rory's watch. Flush them out ........and move on and upwards. Thoughts?

GMET's MC is £228M . Great Western is just over £3M I believe both companies have similar stakes close to each other. What's the catch with such a low MC ....any thoughts on this as clearly if our grades are commercial we should be multiples of today ?

Good pipeline of opportunities....im back in :-)

Is that right ? only £3.2M! ..........bargain compared to some others on AIM and considering the potential here.....imo

An update from IR:

The company was clear in its announcement on 14 July that while the Directors share the concerns expressed by shareholders regarding the Primorus Investments plc disposal, they remind shareholders that as this matter may give rise to legal proceedings, the company will be unable to provide additional commentary regarding the matter other than through announcements when appropriate.

We expect the new CEO will host a webinar of some kind in due course once he has had some time in the seat and this will provide an opportunity to ask questions.

I think the FCA 'fully understand the situation, having seen their response, I think this should be pointed out:

Whilst I appreciate that rule AIM 7 provides guidelines for companies and Nomads, the lock 7 agreement was put into force during the IPO by the BOD of Alteration Earth PLC during an approved FCA prospectus. ( Matthew Beardmore – Non-Executive Chairman of PRM and Alteration Earth ) was party to developing that prospectus thus introducing and agreeing to that clause.

However having put in force this clause, he subsequently broke in for his own benefit, causing the SP to collapse at the expense of others.

Could you confirm if this constitutes insider trading and should be investigated by the FCA ?

Strange why a single ii forced out the CEO & CFO, the sudden name change and the fund RNS. I think you might be onto something. Buy out at 14p would be good :-)