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Jarv55,Please check MIIF's Twitter:
https://twitter.com/mineralsfundgh?s=21&t=212U5MHSNsjL4gdCpqdWGw
blu orca capital is a company that engages in the short selling of stocks for profit. I highly suspect that at the same time that blu orca was shorting Piedmont stock, it was also shorting Atlantic stock. This is disastrous for Atlantic investors!
Investors in Atlantic should study blu orca's short seller report seriously and carefully, and should not make their own investment decisions based on their own subjective wishes. The first task of investors is to ensure the safety of their capital accounts. Below is a link to the blu orca short seller report.
https://static1.squarespace.com/static/5a81b554be42d6b09e19fc09/t/64088ae212ef4e50731bc075/1678281444089/Blue+Orca+is+Short+Piedmont+Lithium+Inc.+%28NASDAQ+PLL%29.pdf
Johnson Asiedu Nketiah
https://en.m.wikipedia.org/wiki/Asiedu_Nketia
March 9 Piedmont PRESS RELEASE "However, if for any reason Piedmont does not exercise its right to this offtake supply, the Company is confident that alternative sources of spodumene concentrate would be available to feed the Tennessee facility".
Piedmont also seemed worried about the atlantic .
Atlantic now faces 2 big problems:
1. Will the Ghanaian government launch a judicial investigation against Atlantic and delay indefinitely the approval of Atlantic's mining license application?
2. Will piedmont divest due to delays in Atlantic mining licenses?
5toamillion
blu's short-seller report noted that Atlantic also paid another senior official related to its mine development.
Atlantic acquired the rights to another portion of its Ghanaian lithium project through the acquisition of a Ghanaian company, Barari DV Ghana Ltd. (“Barari”). The Barari area is adjacent to the Joy Transporters property. Similar to Joy Transporters, Barari appears to be secretly owned by a high-ranking official. Ben Nunoo Mensah owns 10% of Barari.
Ben Nunoo Mensah is Chairman of the Executive Committee of the Ghana NOC. A former insurance executive, Mensah has previously held various positions with Ghanaian sports organisations, which have historically been popular for government appointments.
Many All investors have yet to appreciate the magnitude of Atlantic's problems.
1. Blu's short seller report pointed out that Atlantic acquired Joy Transporters in 2021 to obtain two of the mineral rights and licenses (Saltpond and Cape Coast).In this regard, the RNS released by Atlantic proves that this is fact. Both parties agree on this fact.
2. blu's short-seller report states that the owner of Joy Transporters is the son of a senior politician, Johnson Asiedu Nketiah (General Mosquito) (chairman of the National Democratic Congress, one of the two major political parties in Ghana). At the time of the transaction, General Mosquito was not only a senior party member in the Ghanaian parliament and former chairman of the Minerals and Energy Committee, but also a well-known figure with special influence in Ghana's mining industry. This is the point of the question! In this regard, Atlantic did not respond in the March 9 RNS.
3. the short-seller report has made Atlantic involved in corruption allegations, so Atlantic will be subject to judicial investigation in Ghana. Regardless of the outcome of the judicial investigation, Atlantic will be delayed in obtaining a mining license. This has disastrous consequences for investors.
Today All's stock price gapped and opened higher, opening 2.4p higher than yesterday's closing price of 22.6p, leaving a gap. All share price may now cover the gap down. This shows that All's stock price rebound is weak.
Yesterday Blue Orca Capital published a short sellers report. Blue Orca Capital claimed that Atlantic lithium's lithium mining license in Ghana was obtained through "textbook corruption", and cited more detailed facts. The short seller's report comes at a time when Atlantic lithium is waiting for the Ghanaian government to approve its mining license. I think this short seller report should have been endorsed by the relevant Ghanaian government. Next, the judicial and executive branches of the Ghanaian government should get involved in the investigation. Maybe judicial investigation is a long process. Atlantic lithium cannot obtain a mining license pending the conclusion of Ghana's administrative and judicial investigations. Blue Orca Capital claims it is shorting Piedmont Lithium stock, however, I think Blue Orca Capital is shorting both piedmont and Atlantic. And Blue Orca Capital has successfully shorted Atlantic stock. All in all, it would be impossible for Blue Orca Capital to publish the report involving judicial issues without the support of the relevant departments of the Ghanaian government.
The reason for the sharp drop in All share price today should be related to the RNS on February 17 “ notes the announcement made by the Minerals Income Investment Fund of Ghana ("MIIF"), dated 16 February 2023, regarding its expression of interest to invest up to US$30m in the Company. ”.Ianalyzed this RNS before.
g regpek7,"What's ridiculous RNS today. Basically no update. What a sham this company is." You should note that Angs released the "Annual Financial Report" (bad news) after the market closed yesterday afternoon, and immediately released the "Saltfleetby Drilling and Operations Update" today , which shows the Angs management's willingness not to allow the Angs share price to drop!