Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Just got the news re administration. Oh what a feckin surprise!! Lies, fraud, scum directors and a scam that was perhaps 45 years in the making!! An urgent international arrest warrant should be out for Shetty and his little fraudster cronies - wishful thinking!
The LSE/FCA, who have been as quiet as mice since they got involved should be ashamed. Absolutely zero UK regulation on foreign based FTSE companies. We need an explanation from them as to why they're wasting tax payers' money an investigation, all of which is going to tell us shareholders we were just unlucky to be holding them!
As for EY (who have also to no surprise made no comment in the last few months), they should justifiably get their *rses sued to the hilt for being asleep at the wheel on this if they can't explain. Total disgrace!
Al those 'former' advisors are probably all glad that Corona's going on and taken up 95% of world news!
I average 10.39p and if and when it hits this, then money back and I'm out! Just can't get over the speed of the SP fall, considering its quality long term assets (granted the debt), but just hoping creditors will be gentle in such unprecedented times.
It's been a better week though, and would be nice to see the BOD buying a few to raise the spirits of us lowly PI's.
Finding a nice shiny one is also long overdue. Won't happen while the conveyor belts are pretty much turned off!
It's been a pleasant few days for TLW holders. There are few greater sights than seeing shorters fry, especially after what they've contributed to putting this in single digits last month, and personally made me feel rather ill, considering my 59p av!
Let's keep the good work up, and would be nice to see some share buys from the BOD. On that note, Dot, what's the news on your replacement? Do you have a shortlist?
Clearly with plenty shorts getting their *rses kicked today, and taking into account the nightmare we're all in, today has finally been somewhat enjoyable!
Onwards and upwards into more realistic territory, please!!
I would have thought there must be an abundance of suitable would be/could be CEOs out there, licking their lips with a challenge like TLW. Anyone know if they've even got a longlist, let alone shortlist yet?
Surely but surely, today's news indicates that even with the horrendous position the world's in, TLW's got to be bargain basement at this level with those long term assets. All we need (which I'm sadly in short supply of right now) is patience.
I average at 59p (and well aware I'm one of the lucky ones), and today's the first day in a while that some faith's been restored. I'd settle for my money back on a TO right now, but not a penny less, but granted, it's probs gonna take a while with the massive glut. It would be nice however, to see Dot et al buy a few and show some faith at board level.
As for the shorts, just you sit tight, as I want to see ur asses well and truly fried for once!
Cannot believe anyone is still giving this clown a platform to spout forth utter mince! Seriously, if this is genuine, what a brass neck. Does he think we're all gonna sleep better with his reassuring words?
The only time I want to hear what he's got to say is either from the slammer or the court!
He's just got that face one would never tire slapping!
He will have made sure his Shetty ass was well covered before he took a one way ticket out of UAE.
Is the last two months that's seen the unwinding corruption of this rogue gallery the only dirt that's come out with those fraudsters, considering NMC was founded in the 70's?
A leopard doesn't change its spots and all that !!!
Good point Rastuss!
I think it's wishful thinking on all of us that anything can be recouped. I wrote mine off the minute they were suspended, and have lived with anger and hope ever since.
Anything is a bonus that comes out of this horror show. That includes international arrest warrants, resulting in the rounding up of Shetty and the rest of those fraudsters, inclusive of their assets to be put in a pot for the shareholders.
Wihile awaiting trial, those criminals can then be used as guinea pigs to assist with finding the corona vaccine - simples!
I average at 59p. If there was a takeover right now at that level, I'd snap their hands off!
Part of me would almost welcome say a week's market closure, just to get a small break from this horror show! 3 weeks of non stop battering that's seen an 80% reduction in my portfolio value!
I seem to sleep so much better on Friday and Saturday nights at the mo!
Who knows, perhaps we're looking at another Enron/Arthur Andersen scenario here.
As I've said before, I pay my PII as a property professional for one reason - in case I f up!
EY and other 'blue riband' consultancies that offer a wind and watertight service for in many cases, obscene fees must be open to scrutiny and brought to account. They need to explain exactly what's gone on, because someone or many were asleep at the wheel while half the BOD was up to all sorts!
It gave me comfort at the time, the speed at which the Freeh team were brought in, with the board insisting it was all fabrication. If only we knew half the BOD had another agenda. This created a small spike in the price which allowed them another opportunity to offload. Absolute scum!
I'd be interested to know how much the bill for EY/PwC/ Freeh et al comes our to be, but having experienced clients in receivership, adminstration etc, the presence of such consultants being used nearly always means there's f all left in the end!
Justice on Shetty and his crooks would be a consolation, but I fear there's almost no chance with that either!
There's something I find rather immoral when a co that is clearly on its knees has been paying big 4 outfits that regulary charge £500-£1k /hr to do its accounts/audits to 'guarantee' top quality service, but even more so finds the coffers to bring further flashy consultancies in to investigate when things go wrong - a dripping roast to all advisors!!
EY should be taken to task on this. As a property professional, I pay PII for one reason - in case I fk up!
The minute these shares were suspended, I wrote my investment off. However, my intrigue and anger has never gone away, and I can only hope that all of us who have been robbed of our hard earned cash will get over this in time, especially those who have lost frightening sums. Those that caused this carnage - I hope that karma will prevail!
Still interested in what (if anything) the FCA's gonna do. Don't even know why it exists. Zero effective market regulation in this country. Can anyone think of another FTSE 100 co with a similar unbelievably shocking demise??
To think I got caught in last year's dog that was TCG, now this and being stuck in a rut with TLW, just as Corona world kicks in.
Need some good news!!
EY should be looking out its PII policy on this one - totally asleep at the wheel!
As for these little ex BOD fkrs, they should be publicly flogged for starters. Front row seats anyone??
£9k up in smoke, and I know I'm one of the 'lucky' ones! What with this and the incompetence that is the TLW board, what a year so far. I have zero faith left in the markets!