Member Info for slowlyslowly

S740

How do you know the reasons Auub left the board, given this was never announced and is one of those facts I'd assumed I'd never know any more about? Are you in contact with him, or with someone else involved?

If there's any more you can share, please do

"people ... were selling ... hence the share price rise"

That's not how it works

That, and it's an easy trick to list a number of firms that have hit the media for various scandals, and then to present 79th alongside them. The insinuation, never actually stated in so many words, is that the 79th Group is just the same. It never gets said outright because people are wisely fearful of libel accusations. The important thing here is that nobody has yet been charged with anything. It's just mud slinging and insinuation.

Whatever "Brian" may say, there's clearly an agenda here. Why else would someone register a brand new account to make accusations of a firm with which they have no connection and no axe to grind?

Once again, while loan note holders of 79th, and shareholders of First Class, are having a testing time as they patiently wait for a clear resolution, the negative posters on here seem to have their own agenda and don't have the interests of either of those groups in mind.

"as we were locked in"

Does that mean, Brian, that you were one of those who bought in before the IPO, one of the founders?

What follies, given this has all come to light only recently?

The original company objective was to buy land rights in Ontario, develop the assets by doing fieldwork, and then either sell the rights on or enter some kind of joint venture to retain a share of the rights. Seems to me they've never departed from those objectives.

So I'm not quite sure what you're talking about, S740.

Woah, woah, slow down. How did we get from a police investigation, with nobody charged for anything, and a website that has been taken offline temporarily (which is standard for any fraud investigation, substantiated or not), to the idea that they are "likely to disappear"?

The recent presentation from Rainbow made clear that they're profitable even at very low rare-earth prices. The current rare earth climate does not encourage them to go slowly on purpose to obtain a higher price. The life-of-mine (life-of-gypsum-stack, but you get the point) is considerable, so whenever they start they'll be producing through a range of price cycles. So the earlier they start the better. But their point in the half-yearly report is that, given the LoM, it's more important to do it right with costs optimised than to shave a month or two off.

Anderson / Hatton / Liverpool

No

79th Group may have their headquarters in Southport. But the controversial property development is on Anglesey, and Liverpool councillors would have no ability to influence planning matters in Wales.

Stop fishing for suspicious things under every stone. There is a genuine investigation going on (of limited scope) - we know that - but it doesn't help anyone to throw unrelated aspersions around to muddy the waters. Sorry for the mixed metaphors.

Really useful for First Class holders that you have a direct relationship with them, because you'll receive communication and updates that we don't get. Thanks for sharing, and please keep sharing anything you learn along the way.

As I said yesterday on here in response to a similar post

I take it most people understand the criminal justice system in this country well enough to know that people are innocent until proven guilty, not innocent until arrested, or guilty once arrested unless they're later acquitted at trial.

Pauly, you do seemingly have hours to spend writing about all his failures, because you're often on here doing just that, and the total content you've posted adds up to probably a few hours typing. Why you spend those hours in that way I'm not clear.

I take it most people understand the criminal justice system in this country well enough to know that people are innocent until proven guilty, not innocent until arrested, or guilty once arrested unless they're later acquitted at trial.

I'd suggest everyone lets this work itself through the system and we see what actually comes of all this. I'd also suggest people take great care not to write things in any public forum that could be defamatory if it turns out that the 79th Group and its employees have done no wrong. Just a thought. ;-)

Erm - surely his salary wouldn't be saved, because a new CEO would also need a salary. None of this is anything to do with Marc is it? A different CEO would have hit this same period of uncertainty.

Spot on Jonnie Boy. It seems that there's a cohort eager to jump on any negative news that could possibly bear badly on FCM, and to amplify that for maximum attention, whenever they can. I'm not saying there's no connection to FCM - it's what you've just articulated with great clarity. But the negativity being applied to FCM - that's sadly what has become expected: opportunistic sentiment bashing.

Good to see the drill campaign has completed. Yes, it took a little longer than they hoped, but still done incredibly fast. They need to analyse what they've drilled now, but I'm encouraged that initial observations match what they'd conclude by looking at the known geology and where the artisanal workings are.

So maybe not quite like saying you invested in Superdrug (First Class Metals has not invested in 79th Group), and that Boots is investigated.

Maybe a better analogy: You own shares in a small private company. B&Q buys a large share of equity in the company. And then Screwfix is accused of doing something wrong. 1. The accusations may be wrong. 2. Even if they're proven, does that mean B&Q are guilty of anything? 3. Even if they are, you don't hold share in B&Q, you hold shares in the small company that B&Q also happens to own.

I see, sunjammer - I'm sure they'll sort the amount out between now and when they actually pay it.

William, you said: "I think the cash value I received for the Condor shares was a little light of my expectations"

Have you had cash yet? They've only said they'll pay the cash within 14 days. II have advised they expect to receive the cash on 21st (Tuesday).

The main thing is that you got 4.0526 MTL shares for every CNR held.

Don't think they announced it was up for sale. I think they said that were it to be sold, that would be another trigger to repay the money Jim lent them most recently (the other triggers being a sale of the company or project). In other words it opened the possibility that the mill could be sold separately, without actually saying they were planning to do that.

They never announced its sale, therefore they still own it, and so MTL (who just bought all the assets of CNR) own it.

Leaving aside whatever IG is playing at, the bigger cause of advantage / disadvantage in situations like this is that retail holders don't generally have their own Crest accounts, but use platforms as custodian. Every platform may get the new shares at the identical moment, but that doesn't mean that customers of those platforms will receive them and be free to trade them at exactly the same moment. Far from it. Some have proven themselves over the years to be ridiculously slow to do the admin on this kind of corporate activity, others get it all done by 8.30am.