Regurgitation30 Jul 2023 14:31
There's some real rubbish being spouted on here today.
1) the current market cap stands at £78.61m. The whole company could be bought for that right now or less, because it's probably not even worth that. There's no revenue, so there's nothing to be gained from it for anyone, that's partly why no one has bought it.
2) the mines are sat in Russia, the minerals are in Russian soil, the State own the minerals that lie under the ground, the licences belong to subsidiaries who are also Russian. That is a massive risk for anyone to consider, and particularly whilst a war rages, and Russia has alienated itself from the rest of the world.
3) for those who state that the litigation doesn't affect anything, think again, of course it does. You have to remember that Board members are effectively glorified sales men, they are there to sell their company and its products. Do you believe everything a salesman tells you every time you go to purchase something? of course not, for example, you only have to think about estate agents! ha ha! The Board will tell you what they want to tell you, but it isn't necessarily the real truth of what will happen. Too many see Board's as a God, they are not.
Queeld is one of the biggest shareholders in the company. For them to take the company to court is massive. All they wanted was to replace their share certificates like any normal holder would, in fact, this case should be a lesson to you with Eurasia, it's too risky if you should for some reason lose your certificate or your Link registration, and it's not worth the risk imo if they behave this way towards shareholders, so my view remains that they simply didn't want Queeld flooding the market with shares for sale. It didn't suit the Board's purposes/agenda. If, and it is an if, but if Queeld and Mispare win, then the damages are likely to be huge and currently, it seems to me, that the company doesn't have that sort of money to pay, so then what? I have doubts that any indemnity insurer will pick up the tab for it, insurers always have get out clauses! But no one asked, it seems.
As for Logik, the company clearly realised they were on dodgy ground so settled it, but how much have they had to pay in damages and legal costs for the other side and their own? and where is that money coming from, as the claim was for 300k? supposedly, the company only have 40k in cash?
Spikey is right, iknownuffin is completely wrong, but we know that iknownuffin has a hidden agenda along with DR and team!
4) there have been a string of disasters along the way so far, since 2019, the walk out of the previous Nomad without serving notice, the lengthy suspension, the current Nomad who seems to act in an unprofessional manner imo, especially with the shout about a massive divi being forthcoming, the Mike Hammond episode, the Churakov episode and the Board stating after the event that they had no knowledge, the internal row it seems and further suspension whilst DS is rem