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I don’t see what difference it makes which quarter they tell us, we already know it will not happen because for at least the last 3 years, every single timeline the BoD have ever put into an RNS regarding LCCM they have failed to meet.
I never used to be, but now I’m quite happy for the rampers to turn up, none of what they actually have to say is based on facts, but the chances are it might just help nudge up the share price, in which case some of us LTH can happily jump off this gravy train.
AB. Hey John I hear you might have found someone to stump up 10mil
JP. They won’t confirm it yet but I know it’s in the bag, they just need to do some due diligence
PW. What’s this due diligence that people keep talking about
AB. I think it’s where they have to fly over a mine to make sure it looks OK
PW. Well done John, keep your phone on just in case they send you a text
Croutom (Alias Peter Wale)
( If you have holdings now surely it's best just to hold & wait )
( I think it would be hasty to sell a small undervalued company sitting on a mound of revenue )
( even if it's delayed by 3 months, 6 months, I think holding onto this is a better idea than selling )
( If this is the case the copper could be sold for more after delays )
Three times in two recent posts you have suggested people should hold and not sell, is that possibly because you know it would drop the price, which would be bad right now, especially if SML were thinking of making a placing?
Also in the same two posts you highlight the delays, is that just to forewarn us, a bit like Boris does when he has bad news coming, or is it instead of giving us a proper RNS which would also drop the price, making a placing look even worse.
Fira,
She obviously used stolen money to pay SMG, so they could possibly ask for some of the cash back that she paid, but only equivalent to the amount of magnetite she paid for but never received.
The thing is she basically conned 40 investors who are still owed over 60 mil, whereas I think we are possibly one of the few that she didn't actually steal any money from, so to me that will put us way down the pecking order for any recompense.
Bubble, I don't normally re-post from the past, but I will make an exception for you, so that you can see that we still don't have any legal claim to Brenda's assets.
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Basically the judgment “STAY” is still in place.
The method for seeking to "enforce" an arbitration award under the Federal Act, is to file a motion for confirmation in the appropriate court. That court must grant the motion and enter judgment on the confirmation order.
The “STAY” stops SMG’s court case for enforcement confirmation from proceeding, that is why SMG put in an appeal to have it overturned (which was denied), because without a confirmation order they have no real legal right to Brenda's assets.
The receiver did say:
He has taken note of SMG’s position and will take it under consideration in recommending a claims procedure to the Court at the appropriate time, when the Receivership has marshalled sufficient assets for a meaningful distribution.
Taken from the initial court papers last year:
Since the Fund's inception, Smith raised approximately $105 million from “at least” 40 investors, and investors are still owed “more than” $63 million in principal.
The amount so far retrieved is less than $10 mil.
As Lupi has already stated, the magnetite Brenda bought and collected has basically vanished, but the receiver's view of our claim is interesting, because we still have magnetite that belongs to Brenda as she paid for it, which in law becomes part of her assets.
Quote by receiver:
Upon information and belief, CVI did not actually receive any magnetite for which it failed to pay; rather, it failed to purchase the full amount of magnetite required by the PSA. It is further believed that some of the magnetite paid for by CVI was retained by SMG.
Croutom I think if you were a genuine poster, you should have been very annoyed at what I wrote, but you were not, whereas I know I would have been.
I owe John Peters an apology, I should have known he wasn't stupid enough to try fool us all.
The one thing that Croutom does that gives him away is the use of ( & ) he never uses the word ( And )
But if you were to check, R??????????T??F?????™@RTF83 on twitter, or Cornwall Resources Limited
@CornwallRes on twitter, you will find that Peter Wale never uses the word ( And ) only ( & ) in fact even on his Linked-in profile, you can find examples.
So be a good chap Peter, go crawl back in your hole & leave us to dwell in the misery you have created for us.
Croutom.
In a previous life I used handwriting specialists, which brings me to your messages.
If I’m not mistaken and I might well be wrong? and it wouldn’t be the first time; I think your posts were written by someone!! At SML, hopefully to keep the natives happy, but without making it official.
In your reply to my post, regarding your JP email post you wrote.
“yours sincerely , John Peters” – I have had emails from John in the past, that is how he signs off emails, not just “John”
“just that sometimes LSE blocks something it thinks is a URL” – How did you know that? You have only been a member for 48 hours, there is nothing in the last 150 post on here that mentions that, you would need to have been reading this BB before.
In your last post.
The information about JP’s 65m shares has not been available on the LSE site all week, so you must have found that elsewhere I presume.
Your first post (Thurs 13.26) and also (Today 10.09) were written by the same person, the reply to my post (Thurs 22.41) was either written by someone else, or, made to look like it was written by someone else, if “Propinquity” was to read them both he will know what I mean, the use of (i) instead of I.
If you read them all but with the thought JP might!! have actually wrote them and not Croutom, then the 10.09 post today tells you a lot.
I’m old and sat in the sun, just thought I would entertain myself.
Croutom.
Was there anymore to the email you got? the reason I ask is you mentioned "soon" & "near future" but the word "soon" doesn't appear in the email.
Also call me cynical!! but you only joined this BB on the 7th, but by the 9th ( less than 48 hours ) you have a coherent email from JP, that's something many LTH's have failed to get, just saying.
The fact is BCB, if we had all bought premium bonds instead of SML shares.
1) None of us would be losing any money right now.
2) We probably would all have more money than we started with.
3) It's a shame you can't buy hindsight.
A negative person is just someone who tells you something you don’t want to hear.
And yet, Fira has been right more times than most people on this forum.
It was refreshing to read Lupidog’s post today, for once something based on known facts, not just hope and hype.
Basically the judgment “STAY” is still in place, so that means until it’s removed we still don’t have any claim to Brenda’s assets, so don’t get your hopes up just yet.
The method for seeking to "enforce" an arbitration award under the Federal Act, is to file a motion for confirmation in the appropriate court. That court must grant the motion and enter judgment on the confirmation order.
The “STAY” stops SMG’s court case for enforcement confirmation from proceeding, that is why SMG put in an appeal to have it overturned (which was denied), because without a confirmation order they have no real legal right to Brenda's assets.
The receiver did say:
He has taken note of SMG’s position and will take it under consideration in recommending a claims procedure to the Court at the appropriate time, when the Receivership has marshalled sufficient assets for a meaningful distribution.
Taken from the initial court papers last year:
Since the Fund's inception, Smith raised approximately $105 million from “at least” 40 investors, and investors are still owed “more than” $63 million in principal.
The amount so far retrieved is less than $10 mil.
As Lupi has already stated, the magnetite Brenda bought and collected has basically vanished, but the receiver's view of our claim is interesting, because we still have magnetite that belongs to Brenda as she paid for it, which in law becomes part of her assets.
Quote by receiver:
Upon information and belief, CVI did not actually receive any magnetite for which it failed to pay; rather, it failed to purchase the full amount of magnetite required by the PSA. It is further believed that some of the magnetite paid for by CVI was retained by SMG.
Do you mean Wolf Blade the dark fantasy book series, if I wanted dark fantasy I could just read JP’s outstanding RNS’s.
Just a thought, are you allowed to use “AB” and the word “crook” in the same sentence :-))
Bitcoinbuyer.
“The 3.7 aus $ deposit...is returnable so an asset”
It might be an asset for the S.A Government, because it’s going to be sat in their bank account collecting interest, whereas we have to borrow the money and pay a lot of interest on it, so surely until the debt is paid back it's a liability. Also it’s an environmental bond, so I would have thought rightly or wrongly, not until the mine ceases to operate would you get the bond back, that could be a lot of years down the road.
“This is where you earn or lose money...its a bet... and I am happy to have a good sized betting slip”
In which case people would have been wiser going to the casino, a simple bet on red or black would have been better, at least that way nobody has to wait 4 years, just to see if they will double or lose their money.
I don’t think August will be the rebirth of our hopes, JP has not kept a single deadline/promise over the past two years, the only thing we have had back for our investments are words. So unless he has taken a business degree during his 18 month furlough, it’s not looking like he can pull anything together before at least 2022.
JP brings to mind the Bee Gees song “Words” (with one word modified)
You think that I don't ever mean
A single word I say
It's only words and words are all I have
To take your wealth away