Member Info for SimonThePieman

350,000 shares dumped on Friday, now this. Is anybody watching????????

The BOD want to get paid all the money they can before anybody else gets any. This may take a while, we have to ask the tax office a question and that's worth at least 12 salaries. Then there's the in specie thing and some other gobbledegook The last RNS was clear that the see through agreement as iit is, is as it was. We'll let you know when we are going to move 'focus' to the new company and that will be when all the money has gone. Sucker!

This has been a classic case of 'Dump and Dilute' from the get go, IMO

'Great Assets' - Didn't the Directors just admit that the company has lost control of Los Calatos. :LOST CONTROL! Why did the previous owners of the gold mine agree to accept Metminco shares at 24p when the share price fell to 18p before they signed the contracts [now worth about 9p]. The potential is this. The 30% shares we have in New Los Calatos Co Ltd will be so diluted into oblivion that our share of Metminco's share of the mine, if it ever gets there, will be like a grain of sand in the Gobi Desert. The company made 270 AUD and 'lost control 'of 120 million'.I hope the AFO is watching because I am IMO DYOR

"The company is pleased to announce ... the loss of 120 million dollars for 2016," Why the FCA hasn't closed this down is anybody's guess. It's companies like this that give AIM the reputation it has. Not a single RNS is readable, it's all gobbledegook. For example "The loss of A$124,100,870 (2015: loss of $49,070,767), included a loss of A$121,540,173 on the loss of control of the Group's investment in Los Calatos Holding Limited (LCH) as determined by reference to the see-through value of the CD Capital Transaction"

Quite right - Health Warning - Do not touch this share, this has been nothing more than a cash cow for Howe and his nearest and dearest. Hundreds of millions of shareholders money has gone. Every trick in the book: 98% collaps in share price, dilution after dilution after dilution. There's nothing left. The main asset was sold for wages and there a pretence of a gold mine somewhere in the future. A gold mine that's been handed down by a 'consortium' who sold it for 'X' even though the share price dropped 40% before the contract were finalised. There's nothing to see here except how to get money from the stupid - like me. Move along...

Anyone please...What was the opening price and can opti holders get shares at a discount?

More spendoes for the board! boy they are milking this. MMs dropped the price again - still no takers, not a trade either way. They can't dilute anymore so taking on debt now - 12.5% PA interest compounds monthly - APR about a gizzilion percent. Clearly high risk lending. HOWE JUST GO!!!!!!!!

Will they de-list? Not a trade or a comment for weeks. Nobody seems interested in this at any price. Once bitten twice shy with this BOD. Being dual listed would be expensive. Maybe to de-list is on the cards.

Is Howe still in charge? I'm going back to bed.

Bid at 0.085 ask at 0.089 = 5.28 / 5.53 in UK money. So you can sell here at 5.75 and buy there at 5.5. I reckon they have forward sold about 320,000 shares between 5.5 and 6 so still a long way to go. Where's the money going to come from for the gold mine? Will they use the LC money or dilute again?

Do you think these sells are real shares or forward sales in anticipation of the next placing at around 4p.

If the next dilution is at 3.5p or thereabouts can we subscribe or is it just the board and their mates? Looks to me like a build up of T trades at the moment both here and in Oz. Selling at these prices means they will make huge profits at a placing price of say 2-4p. I feel like my holding is being diluted into oblivion as the board slowly accumulate all the stock. Is that legal?

You would think anyone selling at these prices is selling into a future placing so I wouldn't be buying any right now. Who would sell 3 million shares in old money at 12p. From the options placing alone that's a 40% loss. There was a 200k sell last week at 6.5. That's ten million shares in old money. The only people selling that volume would be placees. Sorry not buying any of it.

Looking back through my CGT returns at my MNC purchases I notice that on the 17th of June 2014 I bought 200,000 shares for 2,342 pounds. Those 200,000 shares are now 4,000 shares. My average on those shares is 58 pence a share. They weren't the first shares I bought either. I had 800,000 already that I'd paid nearly 12 grand for after LC was declared a mine 'of national interest'. Remember that RNS? Those million shares that cost me 14 grand are now 20,000 shares that can be bought for 1,200 pounds today. I'm 92% down. Don't think I wasn't catching that falling knife either! Over 20 grand I plied in here. So there was a time not long ago when this was [in todays money] a pound a share. I can't believe it's 6p. But you have to factor in the Board I suppose.

I think we would do better if we went into liquidation. At least the receivers would have an obligation to realise the assets.

Looks like they have 9.6 million AUD [about 1.6 million pounds] which includes 9.5 million in trust for Los Calatos. H.That leaves about 100k AUD in the bank for Metminco. About enough for another lunch. Where the 1.2 million went is a mystery, probably where the 133 million has gone It's one of those RNS where the language is confusing so who knows what's going on. As for the 4.8 millon, well that's only been 'announced'.

I tried to sell 4 million yesterday nd was offered some peanuts.

We! Who is the 'we' you talk about? We receive what? What do 'we' receive? The first tranche will be received by the new company. We get nothing.

I think the deal is illegal. The consideration for the sale of the asset is nothing more than a promise. Where's the money? What if they go bust. Who owns the asset then? How can the asset move out of the posession of Metminco shareholder to another company who could farm it out to someone else. It stinks