Member Info for ThereGoesMyMoney

Spot on. The report does not create the impression that they are trying to rescue the business at all. They are simply readying it for liquidation. From page 8, for example, "In due course, it is anticipated that the Administration will be ended and the Company placed into Creditors Voluntary Liquidation", and then on the later document detailing the result of the meeting on 6 Jun "We estimate that our costs for undertaking all work in connection in the Administration and undertaking the liquidation of the Company will be...". Also see the "nil shareholder value" remark I posted in the other thread. Please let us know if you hear anything.

Thanks Holdon, makes for interesting reading. Maybe I'm missing something here, but hasn't the ship sailed for all of us though? Yes, the mine might continue, but would we benefit from it? We've been delisted in London and will soon be in Johannesburg. From one of the Cork documents you linked their responsibilities in terms of the agreement include: "written responses to shareholder's requests for confirmation of nil value of shareholding for tax purposes". In other words, our shares are worth nothing. Unless the same legal entities are retained and they later re-list, which strikes me as unlikely, I don't see how any of our money is retained or how the potential re-opening of the mine at some future date benefits us at all. In my opinion any new owner would likely acquire the assets under a new legal entity in which we would own no shares. Or am I missing something?

New SENS on the JSE today confirming delisting from the AltX, but other than that dead quiet. Heard some rumours that there's interest in the mine from buyers, but could not reliably confirm.

1 As others have pointed out the only reference to a 5.3m open placing is from July 2015 2 So? 3 We actually have only flimsy evidence in the form of 1 or 2 dodgy looking ads for this, and even if legit, it could be a completely new entity doing the employing 4 Don't know that he was ever removed from the page What we do have is hearsay that Paul Loudon has vacated his office and is no longer associated with the mine. That the last of the staff left the mine in the last few weeks. That there are potentially parties interested in buying the mine. That temporary crews might be introduced just to get the mine dry for potential buyers. The little news being released, like Spur raising funds for the retrenched miners, seems to support this more than any happy endings I'm afraid.

I truly, truly, hope you're right. But I suspect Dar is right. Right people are richer, now having equipment and development we paid for, and our money is gone. It came at a really terrible time for me too. I honestly never expected this to go so far, I figured there'd be more delays, figured that my shares might be worth even half the paltry 2p it was when shares were suspended, but I always thought I'd be able to get at least some of my money back. Foolish. But it just goes to show you: if it sounds to good to be true, it usually is. Many people were talking of this share going to 20-40p not even a year ago. I figured I won't be greedy, would wait until it reaches maybe 12 or 15 and get out. Ha. Ha. Ha.

Very. Most of my retirement went down with this mine :( I should have sold then. Something niggled at me, but I kept reading and re-reading this forum, watching pro-active investor interviews with Paul "Everything's-A-OK" Loudon, and reading their share holder presentations to convince myself it was a great deal. The smart money got out ages ago I guess. Many people told me to and I ignored them thinking they were simply overly cautious. I'll be working to old age thanks to this little misstep.

It is my understanding, from a brief conversation with my broker, that upon delisting in SA all investor money is forfeited. I'm not sure if the situation is the same in the UK. Unfortunately this was my first foray into share trading, and I put most of my eggs in one basket. Consequently I'm losing quite a lot personally, though I'm sure still peanuts compared to many here. I've heard rumours that Paul Loudon has completely vacated his office at the mine, so it doesn't surprise me that no one has heard of him if true. I'm afraid it looks very much like the fat lady has done all her singing to me and we're all trying to find straws to grasp at.

I believe the billionaire you're referring to is Christo Weise who bought a big stake in Trans Hex a few months ago. I just hope regardless of what happens the PI's involved at least get something back, no doubt the vultures are circling for a taste of this one.