Member Info for Ivanhoes21

Hi BillClinton, I am not sure someone's contractor mate in Tassie is a reliable source of information if I am completely honest, while tailings operations are notoriously difficult to get right.

Spiking the asset sounds a bit far fetched as well. You give the Doyle crew too much credit in my opinion. If they were that switched on then NQ Minerals Plc would be a FTSE 250 company. Having met most of them I can assure you this is not the case.

I do agree with your last point however. Stakeholders should be updated on the actions of the Doyle Cabal to take back control of a company they destroyed.

Good to see these insiders are in a panic and playing the game. They must have a guilty conscience. My bet it is these slimy middlemen who were termed introducers basically get a lovely fee for doing nothing then when things come crashing down suddenly they know nothing. They didn't face the investor, didn't handle any money, didn't speak to NQ and the only information they used was from company presentations.
I think I know who you are talking about.
Then again, having met most of the board and management team at some point in time, they only care about themselves.
Your information is helpful thank you.
I know who to pursue and I know in which way I will do it.

@BillClinton
Sounds like you are an insider or at least someone who has access to inside information.
Am sure there is something left after ING is repaid but when that happens who knows but whatever is left my sources tell me Audley get first dibs.
Don't understand the EBITDA being inflated with a hedge. ING would in my opinion have picked this up. Same for the management costs.
The management costs at NQ are off the scale. One only has to look at the 2019 accounts to see what is going on. Its crazy.

Heard the new guy was trying to shake things up when he came onboard and that's why Doyle and co decided to do a runner.

Anyway, seeing the NQ teaser doc, I am now certain the Audley bond was miss-sold and Bedford Row are complicit. I think if bond holders stand to get some kind of compensation it is coming from Bedford Row, but not because of the vote in 2020.

This asset valuation in the Audley bond teaser is wrong by 7x. NQ bought the asset (Hellyer) for about AUD40m. How does it have assets valued at AU$286m? NQ had to spend AUD10-20m on capex and refurb before any value could be theoretically realised. I would argue in 2017 they didn't have a JORC resource and most certainly did not have a JORC reserve, neither of which would give you an asset on the BS anywhere near AUD286m as there is still plenty of uncertainty on the actual value contained and at what cost this value can be extracted.

This is blatant miss-selling! Walter and his distributor friends should be ashamed. Any distributor peddling this rubbish as debt risk in my view has a case to answer.

As I have said to many, this was never debt risk. This was a junior minor with no cash and huge uncertainty on its ability to realise any cashflows. This is equity risk. We were all fooled!

@moxx
Many distributors of the Audley paper milked this deal to make a fortune and now when things have gone wrong they try to play the good guy and pretend to play dumb even on this lse chat. It's all NQ and Scott Levy's fault they say. Come on, they were all in on it. Many were made millionaires off the back of Audley commissions, happy to turn a blind eye while the cash kept rolling in.
The actual investor had no idea that 40 cents in every dollar was never invested with the company. That was a company killer. Where's the ethics in not disclosing your commission to your investors?

The key issue for us Audley bondholders is the vote which was facilitated by Scott Levy/Bedford Row/Audley/Truva. That should be the focus. That's where we lost our security.

Secondly it is the 40% commission scam and where the money went as this brought down NQ and led to the Administration.

That's not how I read it. It could also mean that the information was sent to all middlemen, it was just that one, most or all of the middlemen didn't pass it on.
Scott is sharp and a lawyer himself, while Truva are not idiots. Unfortunately, they may be legally watertight on this one.

I don't know Johanes.
We don't know if Audley (Scott) tried to communicate and it never got through to the bond holders or they never actually tried.
That is information only Bedford Row/Audley can confirm.

This is interesting. Thanks
A slight correction perhaps, but I was told that the vote itself was across two rounds, the first round requiring 25% attendance and the second was basically whoever showed up. They managed to win the vote on the second round.

Everything else you have posted is new to me and appreciated.